Darrell & King LLC continued to hold its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,000 shares of the utilities provider’s stock at the end of the second quarter. Darrell & King LLC’s holdings in Public Service Enterprise Group were worth $258,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in Public Service Enterprise Group by 179.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,160,960 shares of the utilities provider’s stock worth $92,943,000 after buying an additional 1,387,377 shares during the last quarter. GW Henssler & Associates Ltd. boosted its stake in Public Service Enterprise Group by 2.3% in the second quarter. GW Henssler & Associates Ltd. now owns 255,385 shares of the utilities provider’s stock worth $10,984,000 after buying an additional 5,798 shares during the last quarter. Comerica Bank boosted its stake in Public Service Enterprise Group by 2.0% in the second quarter. Comerica Bank now owns 161,703 shares of the utilities provider’s stock worth $7,120,000 after buying an additional 3,214 shares during the last quarter. Community Bank N.A. boosted its stake in Public Service Enterprise Group by 2.5% in the second quarter. Community Bank N.A. now owns 98,618 shares of the utilities provider’s stock worth $4,241,000 after buying an additional 2,432 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Public Service Enterprise Group by 5.6% in the second quarter. Legal & General Group Plc now owns 3,140,935 shares of the utilities provider’s stock worth $135,094,000 after buying an additional 167,240 shares during the last quarter. 66.32% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Incorporated (PEG) opened at 46.65 on Thursday. The firm has a market cap of $23.60 billion, a P/E ratio of 52.42 and a beta of 0.38. The firm’s 50-day moving average price is $44.13 and its 200-day moving average price is $44.25. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $46.74.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate 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 company posted $0.57 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The company also recently disclosed 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 of this dividend is Thursday, September 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.69%. Public Service Enterprise Group’s dividend payout ratio is 193.26%.

ILLEGAL ACTIVITY NOTICE: This story was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.thecerbatgem.com/2017/08/17/darrell-king-llc-maintains-position-in-public-service-enterprise-group-incorporated-peg.html.

A number of research firms recently issued reports on PEG. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.50 to $50.00 in a research note on Friday, August 11th. Morgan Stanley increased their target price on Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Citigroup Inc. reissued a “neutral” rating and set a $49.00 target price (up from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub raised Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.21.

In other news, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the sale, the chairman now owns 748,121 shares in the company, valued at $32,042,022.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

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)

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