The Vanguard Group, Inc. has recently announced that it has increased stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 13.59%. After grabbing 59.35 million shares, the institutional investor is now in possession of 7.1 million shares of the Utilities Company. The new investment brought the stake of investor firm to 11.91% having worth around $3.71 billion. Moreover, JPMorgan Investment Management, I increased its share by 0.85 million to have a control over 27.62 million shares. And Geode Capital Management LLC raised its holdings to 0.24 million shares by acquiring 10.93 million shares or 2.19% of the stake.
Public Service Enterprise Group Inc. (PEG) concluded trading on 12/21/23 at a closing price of $60.35, with 2.19 million shares of worth about $132.23 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -1.87% during that period and on Thursday the price saw a loss of about -0.64%. Currently the company’s common shares owned by public are about 498.31M shares, out of which, 497.69M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the PEG stock and their offered price forecasts bring an average price target of $65.80. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $70.00 and could fall to a lowest price of $62.00. The stock’s current price level is 8.28% above of average price target set by the analysts, while a rise to estimated low would result in gain of 2.66% for the stock. However, touching the estimated high of $70.00 would mean a gain of 13.79% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 41 times over the past 12 months. They bought 154,690 shares in 18 of the transactions. In 23 selling transactions, insiders dumped 60,437 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Public Service Enterprise Group Inc. Vanguard Total Stock Market ETF is currently holding 15.63 million shares of worth totaling $976.02 million. The company recently came buying 21621.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 68765.0 shares, after which its hold over company’s outstanding shares expand to 2.42%, leaving 12.06 million shares with the mutual fund that have a worth of about $753.13 million. Vanguard Mid Cap Index Fund, after buying 11.33 million shares, have now control over 2.27% of the stake in the company. It holds 23542.0 shares of worth $707.24 million.
Public Service Enterprise Group Inc. (NYSE: PEG) started trading at $60.80, above $0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 61.11, or with a loss of -0.64%. Stock saw a price change of -4.18% in past 5 days and over the past one month there was a price change of -5.91%. Year-to-date (YTD), PEG shares are showing a performance of -1.50% which increased to 1.93% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $53.71 but also hit the highest price of $65.46 during that period. The average intraday trading volume for Public Service Enterprise Group Inc. shares is 3.05 million. The stock is currently trading -4.27% below its 20-day simple moving average (SMA20), while that difference is down -2.95% for SMA50 and it goes to -1.94% lower than SMA200.
The Vanguard Group, Inc. acquired 59.35 million shares of Public Service Enterprise Group Inc. having value of about $3.71 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 7.1 million shares in the company valued at close to $428654704.2, or have control over 13.59% stake in the company. Public Service Enterprise Group Inc. (NYSE: PEG) currently have 498.31M outstanding shares and institutions hold larger chunk of about 74.91% of that. Holding of mutual funds in the company is about 26.23% while other institutional holders and individual stake holders have control over 49.87% and 0.43% of the stake respectively.
The stock has a current market capitalization of $30.07B and its 3Y-monthly beta is at 0.59. PE ratio of stock for trailing 12 months is 10.76, while it has posted earnings per share of $5.61 in the same period. Its PEG reads 2.07 and has Quick Ratio of 0.45 while making debt-to-equity ratio of 1.31. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PEG, volatility over the week remained 1.86% while standing at 1.81% over the month.
Analysts are in expectations that Public Service Enterprise Group Inc. (PEG) stock would likely to be making an EPS of $0.53 in the current quarter, while forecast for next quarter EPS is $1.41 and it is $3.69 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.49 which is $0.59 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.64 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -0.20% while it is estimated to increase by 6.56% in next year. EPS is likely to grow at an annualized rate of 5.20% for next 5-years, compared to annual growth of -7.87% made by the stock over the past 5-years.
Analysts at 19 brokerage firms have issued recommendations for the Public Service Enterprise Group Inc. (PEG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.16. Out of those 19 Wall Street analysts, 8 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on August 23, 2023 offering an Overweight rating for the stock and assigned a target price of $64 to it.
