Millburn Ridgefield Corp Has $38,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Millburn Ridgefield Corp decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 22.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 629 shares of the utilities provider’s stock after selling 178 shares during the period. Millburn Ridgefield Corp’s holdings in Public Service Enterprise Group were worth $38,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Vanguard Group Inc. lifted its stake in Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after acquiring an additional 7,103,657 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Public Service Enterprise Group by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after purchasing an additional 726,613 shares during the period. Legal & General Group Plc increased its position in Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock worth $401,173,000 after buying an additional 87,974 shares during the last quarter. Northern Trust Corp raised its stake in Public Service Enterprise Group by 2.8% in the third quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock valued at $350,395,000 after buying an additional 170,586 shares during the period. Finally, Morgan Stanley lifted its position in shares of Public Service Enterprise Group by 4.1% in the third quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock valued at $319,407,000 after buying an additional 221,071 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,322 shares of company stock valued at $607,376. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG traded up $0.43 on Friday, hitting $70.45. The company had a trading volume of 2,393,470 shares, compared to its average volume of 2,748,077. The firm has a 50 day moving average of $65.56 and a two-hundred day moving average of $62.60. The stock has a market capitalization of $35.09 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 3.08 and a beta of 0.56. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $70.54.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.39 earnings per share. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.41%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Wall Street Analyst Weigh In

Several research firms have commented on PEG. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada increased their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Scotiabank decreased their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Finally, Barclays upped their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.