Duff & Phelps Investment Management Co. continued to hold its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,800,000 shares of the company’s stock at the end of the third quarter. Duff & Phelps Investment Management Co. owned about 0.36% of Public Service Enterprise Group worth $75,366,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Concert Wealth Management Inc. boosted its position in shares of Public Service Enterprise Group by 2.4% in the second quarter. Concert Wealth Management Inc. now owns 4,998 shares of the company’s stock valued at $236,000 after buying an additional 116 shares during the period. AXA boosted its position in shares of Public Service Enterprise Group by 136.9% in the second quarter. AXA now owns 698,200 shares of the company’s stock valued at $32,543,000 after buying an additional 403,500 shares during the period. Retirement Systems of Alabama boosted its position in shares of Public Service Enterprise Group by 0.7% in the second quarter. Retirement Systems of Alabama now owns 257,927 shares of the company’s stock valued at $12,022,000 after buying an additional 1,861 shares during the period. PGGM Investments boosted its position in shares of Public Service Enterprise Group by 0.7% in the second quarter. PGGM Investments now owns 1,437,634 shares of the company’s stock valued at $67,008,000 after buying an additional 9,542 shares during the period. Finally, GW Henssler & Associates Ltd. boosted its position in shares of Public Service Enterprise Group by 2.6% in the second quarter. GW Henssler & Associates Ltd. now owns 244,484 shares of the company’s stock valued at $11,395,000 after buying an additional 6,280 shares during the period. 64.42% of the stock is owned by institutional investors.

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

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) opened at 42.84 on Wednesday. Public Service Enterprise Group Inc. has a 52 week low of $36.80 and a 52 week high of $47.41. The stock has a market cap of $21.67 billion, a price-to-earnings ratio of 16.87 and a beta of 0.28. The stock’s 50 day moving average price is $41.06 and its 200 day moving average price is $43.35.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, October 31st. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.83 by $0.05. Public Service Enterprise Group had a net margin of 13.99% and a return on equity of 10.91%. During the same quarter in the previous year, the business earned $0.80 EPS. Equities research analysts anticipate that Public Service Enterprise Group Inc. will post $2.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.64 annualized dividend and a dividend yield of 3.83%. Public Service Enterprise Group’s payout ratio is 64.57%.

TRADEMARK VIOLATION WARNING: This article was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark legislation. The correct version of this article can be accessed at https://www.thecerbatgem.com/2016/11/30/public-service-enterprise-group-inc-peg-position-held-by-duff-phelps-investment-management-co.html.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday. Goldman Sachs Group Inc. upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $47.00 in a research report on Monday, October 17th. Barclays PLC boosted their price target on Public Service Enterprise Group from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, September 22nd. Jefferies Group restated a “hold” rating and issued a $43.50 price target on shares of Public Service Enterprise Group in a research report on Tuesday, November 1st. Finally, Argus dropped their price target on Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $46.17.

In other news, Chairman Ralph Izzo sold 25,993 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $41.36, for a total transaction of $1,075,070.48. Following the transaction, the chairman now owns 727,346 shares of the company’s stock, valued at $30,083,030.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

Receive News & Stock Ratings for Public Service Enterprise Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group Inc. and related stocks with our FREE daily email newsletter.