Public Service Enterprise Group Incorporated (PEG) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,336 shares of the utilities provider’s stock after buying an additional 5,263 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Public Service Enterprise Group were worth $5,778,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. raised its position in Public Service Enterprise Group by 4,031.7% during the 1st 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 last quarter. Vanguard Group Inc. grew its stake in shares of Public Service Enterprise Group by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock worth $1,554,116,000 after purchasing an additional 1,144,077 shares during the period. State Street Corp grew its stake in Public Service Enterprise Group by 1.2% in the 1st quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock valued at $1,200,831,000 after acquiring an additional 319,134 shares during the last quarter. LSV Asset Management grew its stake in Public Service Enterprise Group by 1.5% in the 1st quarter. LSV Asset Management now owns 13,768,759 shares of the utilities provider’s stock valued at $610,644,000 after acquiring an additional 207,819 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Public Service Enterprise Group by 7.9% in the 1st quarter. Bank of New York Mellon Corp now owns 7,266,782 shares of the utilities provider’s stock valued at $322,282,000 after acquiring an additional 534,074 shares during the last quarter. Institutional investors own 65.97% of the company’s stock.

Public Service Enterprise Group Incorporated (NYSE PEG) opened at 45.82 on Friday. The stock’s 50 day moving average is $46.19 and its 200 day moving average is $44.65. The stock has a market capitalization of $23.18 billion, a price-to-earnings ratio of 51.48 and a beta of 0.39. Public Service Enterprise Group Incorporated has a one year low of $39.28 and a one year high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same quarter in the previous year, the business posted $0.57 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.75%. Public Service Enterprise Group’s dividend payout ratio is 193.26%.

A number of equities research analysts recently commented on PEG shares. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Tuesday, July 4th. BidaskClub cut shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Finally, Wolfe Research raised shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research note on Monday, July 17th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Public Service Enterprise Group has a consensus rating of “Buy” and a consensus price target of $48.46.

In related news, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ralph Izzo sold 23,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total value of $1,058,382.00. Following the completion of the sale, the chairman now owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,900 shares of company stock valued at $2,413,947. 0.61% of the stock is owned by corporate insiders.

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About Public Service Enterprise Group

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)

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