Public Service Enterprise Group Inc. (NYSE:PEG) Stake Raised by Morgan Stanley

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Morgan Stanley grew its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 71.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,008,074 shares of the utilities provider’s stock after purchasing an additional 834,721 shares during the period. Morgan Stanley owned approximately 0.40% of Public Service Enterprise Group worth $108,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEG. JPMorgan Chase & Co. grew its holdings in shares of Public Service Enterprise Group by 174.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,306,316 shares of the utilities provider’s stock worth $266,590,000 after acquiring an additional 3,372,101 shares during the period. Millennium Management LLC grew its holdings in Public Service Enterprise Group by 60.8% during the 1st quarter. Millennium Management LLC now owns 1,948,085 shares of the utilities provider’s stock valued at $97,872,000 after buying an additional 736,283 shares during the last quarter. Unigestion Holding SA acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at $20,664,000. Jennison Associates LLC grew its holdings in Public Service Enterprise Group by 27.2% during the 2nd quarter. Jennison Associates LLC now owns 1,773,765 shares of the utilities provider’s stock valued at $96,032,000 after buying an additional 379,262 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at $15,898,000. Institutional investors own 68.45% of the company’s stock.

NYSE:PEG traded up $0.09 during mid-day trading on Friday, hitting $53.68. The company had a trading volume of 4,062,091 shares, compared to its average volume of 3,075,057. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.52. Public Service Enterprise Group Inc. has a 1 year low of $46.19 and a 1 year high of $55.36. The firm has a market capitalization of $26.68 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.86 and a beta of 0.32.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.37 billion. Public Service Enterprise Group had a return on equity of 11.03% and a net margin of 23.69%. During the same period last year, the company posted $0.62 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Inc. will post 3.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 7th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, September 6th. This represents a $1.80 annualized dividend and a dividend yield of 3.35%. Public Service Enterprise Group’s dividend payout ratio is presently 61.43%.

PEG has been the topic of a number of recent analyst reports. UBS Group raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $60.00 in a research note on Wednesday. Morgan Stanley reduced their price target on Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, September 21st. Goldman Sachs Group lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $53.00 in a research note on Thursday, July 19th. Wells Fargo & Co cut their target price on Public Service Enterprise Group from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, September 17th. Finally, Mizuho reaffirmed a “hold” rating and issued a $50.00 target price on shares of Public Service Enterprise Group in a research report on Monday, August 6th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $55.31.

In other news, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $50.60, for a total transaction of $1,054,149.80. Following the completion of the sale, the chairman now directly owns 557,716 shares in the company, valued at $28,220,429.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 123,069 shares of company stock valued at $6,430,191 over the last 90 days. Insiders own 0.58% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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