Horizon Investment Services LLC Buys 559 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Horizon Investment Services LLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,709 shares of the utilities provider’s stock after buying an additional 559 shares during the period. Horizon Investment Services LLC’s holdings in Public Service Enterprise Group were worth $697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. BlackRock Inc. increased its position in Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after buying an additional 47,208,334 shares during the period. Vanguard Group Inc. increased its position in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock worth $1,554,116,000 after buying an additional 1,144,077 shares during the period. State Street Corp increased its position in Public Service Enterprise Group by 1.2% in the first quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock worth $1,200,831,000 after buying an additional 319,134 shares during the period. LSV Asset Management increased its position in Public Service Enterprise Group by 1.5% in the first quarter. LSV Asset Management now owns 13,768,759 shares of the utilities provider’s stock worth $610,644,000 after buying an additional 207,819 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Public Service Enterprise Group by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 7,266,782 shares of the utilities provider’s stock worth $322,282,000 after buying an additional 534,074 shares during the period. 66.17% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Incorporated (PEG) traded up 1.40% during mid-day trading on Friday, reaching $44.96. 2,755,683 shares of the company were exchanged. Public Service Enterprise Group Incorporated has a 1-year low of $39.28 and a 1-year high of $46.14. The firm has a market capitalization of $22.76 billion, a P/E ratio of 50.23 and a beta of 0.38. The stock has a 50-day moving average of $43.54 and a 200 day moving average of $44.06.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.17% and a net margin of 5.86%. During the same period in the prior year, the company posted $0.57 earnings per share. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post $2.90 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 193.26%.

TRADEMARK VIOLATION WARNING: “Horizon Investment Services LLC Buys 559 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)” was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://www.chaffeybreeze.com/2017/07/30/horizon-investment-services-llc-has-697000-position-in-public-service-enterprise-group-incorporated-nysepeg-updated-updated-updated.html.

A number of research firms have recently weighed in on PEG. BidaskClub upgraded shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Barclays PLC lowered their price target on shares of Public Service Enterprise Group from $49.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 4th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, July 4th. Deutsche Bank AG lowered their price target on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, April 11th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $47.10.

In other news, COO Ralph A. Larossa sold 24,021 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total value of $1,046,114.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ralph Izzo sold 30,000 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $43.82, for a total value of $1,314,600.00. Following the completion of the sale, the chairman now directly owns 748,691 shares of the company’s stock, valued at $32,807,639.62. The disclosure for this sale can be found here. Insiders sold 86,021 shares of company stock valued at $3,733,335 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Receive News & Ratings for Public Service Enterprise Group Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply