Barrow Hanley Mewhinney & Strauss LLC Increases Stake in Public Service Enterprise Group Inc. (PEG)

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Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 280,642 shares of the utilities provider’s stock after buying an additional 6,100 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 0.06% of Public Service Enterprise Group worth $14,099,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vident Investment Advisory LLC increased its stake in shares of Public Service Enterprise Group by 16.2% during the fourth quarter. Vident Investment Advisory LLC now owns 12,498 shares of the utilities provider’s stock valued at $643,000 after buying an additional 1,746 shares during the period. Sterling Capital Management LLC purchased a new position in Public Service Enterprise Group in the fourth quarter valued at about $8,808,000. Envestnet Asset Management Inc. grew its stake in Public Service Enterprise Group by 1.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 104,787 shares of the utilities provider’s stock valued at $5,396,000 after purchasing an additional 1,471 shares during the last quarter. Toronto Dominion Bank grew its stake in Public Service Enterprise Group by 24.9% in the first quarter. Toronto Dominion Bank now owns 272,181 shares of the utilities provider’s stock valued at $13,672,000 after purchasing an additional 54,211 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Public Service Enterprise Group in the fourth quarter valued at about $1,444,000. Hedge funds and other institutional investors own 68.17% of the company’s stock.

Shares of Public Service Enterprise Group opened at $53.06 on Thursday, according to MarketBeat. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.71 and a quick ratio of 0.52. The stock has a market capitalization of $26.70 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 2.78 and a beta of 0.41. Public Service Enterprise Group Inc. has a fifty-two week low of $41.67 and a fifty-two week high of $53.33.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, April 30th. The utilities provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.02). The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.74 billion. Public Service Enterprise Group had a return on equity of 11.22% and a net margin of 21.68%. During the same period in the prior year, the business posted $0.92 EPS. equities analysts anticipate that Public Service Enterprise Group Inc. will post 3.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, June 7th. Public Service Enterprise Group’s dividend payout ratio is presently 61.43%.

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 16,400 shares of the firm’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $50.36, for a total value of $825,904.00. Following the completion of the sale, the executive vice president now owns 51,604 shares of the company’s stock, valued at $2,598,777.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $49.90, for a total value of $1,039,566.70. The disclosure for this sale can be found here. In the last three months, insiders sold 78,899 shares of company stock valued at $4,042,936. Corporate insiders own 0.58% of the company’s stock.

PEG has been the topic of several analyst reports. Guggenheim reiterated a “buy” rating and issued a $56.00 target price on shares of Public Service Enterprise Group in a research note on Friday, February 23rd. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Monday, March 12th. Bank of America upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating in a research note on Monday, April 16th. Royal Bank of Canada reiterated a “hold” rating and issued a $52.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, March 14th. Finally, Mizuho reiterated a “hold” rating and issued a $47.00 target price on shares of Public Service Enterprise Group in a research note on Friday, March 2nd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Public Service Enterprise Group has an average rating of “Buy” and a consensus target price of $52.32.

Public Service Enterprise Group Company Profile

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.

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

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