The institutional investor now has 6,149,030 shares of the company’s stock after selling 89,335 shares of the utilities provider’s stock during the most recent period.
This brings the total number of shares owned by the investor to 6,149,030.
At the end of the most recent reporting period, Bank of New York Mellon Corp. owned Public Service Enterprise Group, and the market value of the company’s investment in PSEG was $345,759,000.
The most recent reports from analysts have focused their attention primarily on PEG. StockNews.com initiated coverage of shares of Public Service Enterprise Group with the release of a report on Thursday. StockNews.com will continue to provide coverage of these shares.
They recommended that shareholders “hold” their shares of the company.
In a research report released on November 17, Wolfe Research downgraded the “outperform” rating previously assigned to the shares of Public Service Enterprise Group to a “peer perform” rating instead.
BMO Capital Markets downgraded Public Service Enterprise Group from a “market perform” rating to “underperform” in a report made public on Monday.
Additionally, the firm decreased its price objective on its shares from $64.00 to $60.00.
In a report made public on Monday, Mizuho lowered its “buy” rating for Public Service Enterprise Group and lowered its price objective on the stock from $66.00 to $60.00.
Both of these changes resulted from lowering their price objective on the stock. Guggenheim lowered their target price on Public Service Enterprise Group shares from $71.00 to $68.00 and gave the stock a “buy” rating in a research note published on February 22.
Despite this, the company recommended “buying” the stock to investors. Five research analysts have given the stock a buy recommendation, while six research professionals have given the stock a hold recommendation.
According to information made available by Bloomberg, the stock currently has a ” Hold ” rating from the market.
Analysts have determined that the stock should reach an average price objective of $67.20.
During the most recent few months, several significant investors have been buying and selling company stock shares.
BlackRock INC increased the amount of Public Service Enterprise Group stock it owned by 5.0 percentage points during the third quarter.
BlackRock INC now has 54,426,510 shares of the utility service provider’s stock, valued at $3,060,399,000, after purchasing an additional 2,576,034 shares during the most recent quarter.
This brings the total number of shares owned by BlackRock INC to 54,426,510.
During the third quarter of the fiscal year, Vanguard Group INC increased the proportion of its public Service Enterprise Group holdings by 1.2%.
During the time frame under consideration, Vanguard Group, INC made an additional purchase of 534,812 shares, bringing the total number of shares of utility provider stock that it owns to 44,333,301, with a value of $2,492,861,000 on the open market.
During the third quarter, State Street Corporation managed to amass an additional 1.2% of the total number of shares issued by Public Service Enterprise Group. Following the purchase of an additional 368,768 shares during the most recent period, State Street Corp. now owns a total of 31,594,778 shares of the stock of the utility provider, which has a value of $1,776,574,000.
This brings the total number of shares owned by State Street Corp.
During the second quarter, Legal & General Group Plc increased the proportion of Public Service Enterprise Group stock owned by an amount equal to a 24.4% increase. Following acquiring an additional 1,363,974 shares during the most recent period, Legal & General Group Plc now owns 6,965,031 shares of the stock held by the utility provider.
The value of the company’s stock as of this writing is $440,749,000.
Last but certainly not least, Northern Trust Corporation increased the amount of Public Service Enterprise Group stock owned by 0.7% during the second quarter, making it the company’s latest accomplishment. Following the purchase of an additional 39,373 shares of utility provider stock during the period, Northern Trust Corporation now has a total of 6,071,379 shares, each of which has a value of $384,197,000.
At present, institutional investors own 70.67 percent of the equity in the company.
On Thursday, trading on the NYSE PEG began for $58.62 per share. Over the past year, the price of Public Service Enterprise Group Incorporated has fluctuated between $52.51 and $75.61, reaching an all-time low of $52.51 and an all-time high of $75.61.
A debt-to-equity ratio comes in at 1.20; a quick ratio at 0.50; a current ratio at 0.64; and a quick ratio at 0.50.
The company has a price-to-earnings ratio of 28.46, a PEG ratio of 7.05, and a beta value of 0.55.
The company’s total value, as measured by its market capitalization, is $29.24 billion.
The simple moving average price of the company’s stock over the past 50 days is $60.86, and the average price over the last 200 days is also $60.24.
On Thursday, February 21, Public Service Enterprise Group (NYSE: PEG) released its most recent quarterly earnings report.
The report covered the company’s most recent financial results.
The utility company reported earnings per share (EPS) for the quarter of $0.64, which is $0.02 higher than the consensus estimate of $0.62 for the period.
The estimate was taken from the previous quarter. For Public Service Enterprise Group, the return on equity was 12.88%, and the net margin for that business was 10.52%.
The company reported quarterly revenue of $3.14 billion, significantly higher than the projections made by industry experts, which were for a total of $2.54 billion. Compared to the previous year’s results for the same quarter, the company’s earnings per share came in at $0.69. Sales for the company’s most recent quarter showed an increase of 2.7% when measured against the results for the same quarter in the previous year.
In 2018, Public Service Enterprise Group, INC was anticipated to realize profits of $3.43 per share to the projections made by market researchers.
In addition, the company declared that it would distribute its quarterly dividend the day after its announcement, which was March 31.
If an investor’s shares were recorded on March 10, they would be eligible to receive a dividend payment of $0.57 per share if the company meets certain requirements.
This translates to a yield of 3.89% and an annual dividend payment of $2.28 for each share.
This Thursday, March 9, marks the last day dividends will be distributed to shareholders.
This represents an increase compared to the previous quarterly payout of $0.54 that the Public Service Enterprise Group distributed.
The number of dividends that Public Service Enterprise Group shareholders receive amounts to 110.68 percent of their total investment.