denkapparat Operations GmbH Buys New Stake in Public Service Enterprise Group Incorporated $PEG

denkapparat Operations GmbH bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 9,102 shares of the utilities provider’s stock, valued at approximately $760,000.

A number of other institutional investors also recently made changes to their positions in the stock. Empowered Funds LLC increased its position in Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Public Service Enterprise Group by 40.7% during the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after purchasing an additional 12,172 shares during the last quarter. CWM LLC boosted its stake in shares of Public Service Enterprise Group by 7.5% during the 2nd quarter. CWM LLC now owns 17,969 shares of the utilities provider’s stock worth $1,513,000 after purchasing an additional 1,253 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Public Service Enterprise Group by 2.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,779 shares of the utilities provider’s stock worth $1,328,000 after buying an additional 369 shares in the last quarter. Finally, Mutual Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $330,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of analyst reports. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $85.00 price objective (down previously from $88.00) on shares of Public Service Enterprise Group in a research note on Thursday, January 22nd. Finally, BTIG Research initiated coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.96.

Public Service Enterprise Group Trading Up 1.9%

Shares of PEG stock opened at $86.12 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The firm’s 50 day moving average price is $80.22 and its two-hundred day moving average price is $81.97. The stock has a market cap of $42.98 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 2.9%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.