Gofen & Glossberg LLC IL Has $620,000 Position in Public Service Enterprise Group Incorporated (PEG)

Gofen & Glossberg LLC IL continued to hold its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,969 shares of the utilities provider’s stock at the end of the first quarter. Gofen & Glossberg LLC IL’s holdings in Public Service Enterprise Group were worth $620,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its stake in Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock worth $103,000 after buying an additional 381 shares in the last quarter. Parallel Advisors LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $114,000. Kistler Tiffany Companies LLC increased its stake in Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock worth $119,000 after buying an additional 99 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in Public Service Enterprise Group by 21.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock worth $134,000 after buying an additional 543 shares in the last quarter. Finally, CENTRAL TRUST Co increased its stake in Public Service Enterprise Group by 10.4% in the first quarter. CENTRAL TRUST Co now owns 3,323 shares of the utilities provider’s stock worth $147,000 after buying an additional 314 shares in the last quarter. 66.53% of the stock is owned by institutional investors.

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

Public Service Enterprise Group Incorporated (PEG) traded up 0.29% during trading on Friday, hitting $44.45. 5,051,153 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $44.02 and a 200 day moving average price of $43.99. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $46.81. The company has a market cap of $22.49 billion, a price-to-earnings ratio of 42.74 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Friday, April 28th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. Public Service Enterprise Group had a return on equity of 11.17% and a net margin of 5.86%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the firm posted $0.91 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post $2.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be issued a $0.43 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.87%. Public Service Enterprise Group’s payout ratio is presently 165.39%.

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A number of analysts have recently issued reports on PEG shares. Deutsche Bank AG dropped their price objective on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, April 11th. Barclays PLC boosted their price target on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. Jefferies Group LLC reissued a “hold” rating and issued a $46.50 price target (up from $43.50) on shares of Public Service Enterprise Group in a research note on Monday, February 27th. Wells Fargo & Company downgraded shares of Public Service Enterprise Group from an “outperform” rating to a “market perform” rating in a research note on Monday, February 27th. Finally, Mizuho began coverage on shares of Public Service Enterprise Group in a research note on Wednesday, April 19th. They issued a “neutral” rating and a $44.50 price target for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $46.90.

In related news, COO Ralph A. Larossa sold 24,021 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total transaction of $1,046,114.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ralph Izzo sold 30,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $43.82, for a total value of $1,314,600.00. Following the sale, the chairman now directly owns 748,691 shares of the company’s stock, valued at $32,807,639.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,021 shares of company stock valued at $3,772,635. 0.61% of the stock is currently owned by insiders.

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.

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