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 $3.63 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 Thursday at a closing price of $57.47, with 3.07 million shares of worth about $176.24 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -11.48% during that period and on Thursday, January 25 the price saw a gain of about 0.86%. Currently the company’s common shares owned by public are about 498.31M shares, out of which, 497.68M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 33 times over the past 12 months. They bought 154,690 shares in 18 of the transactions. In 15 selling transactions, insiders dumped 46,435 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 15.55 million shares of worth totaling $950.73 million. The company recently came selling -0.1 million shares which brought its stake up to 3.12% of the company’s outstanding shares. Vanguard 500 Index Fund bought 5208.0 shares, after which its hold over company’s outstanding shares expand to 2.44%, leaving 12.17 million shares with the mutual fund that have a worth of about $744.04 million. Vanguard Mid Cap Index Fund, after selling 11.19 million shares, have now control over 2.25% of the stake in the company. It holds -0.16 million shares of worth $684.06 million.
However, the stock later moved at a day high price of 57.59, or with a gain of 0.86%. Stock saw a price change of -1.47% in past 5 days and over the past one month there was a price change of -5.24%. Year-to-date (YTD), PEG shares are showing a performance of -6.02% which decreased to -5.71% 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 2.95 million. The stock is currently trading -4.63% below its 20-day simple moving average (SMA20), while that difference is down -7.05% for SMA50 and it goes to -6.75% lower than SMA200.
The Vanguard Group, Inc. acquired 59.35 million shares of Public Service Enterprise Group Inc. having value of about $3.63 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 $408198605.64, 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 75.38% of that. Holding of mutual funds in the company is about 26.94% while other institutional holders and individual stake holders have control over 48.87% and 0.43% of the stake respectively.
The stock has a current market capitalization of $28.64B and its 3Y-monthly beta is at 0.58. PE ratio of stock for trailing 12 months is 10.24, while it has posted earnings per share of $5.61 in the same period. Its PEG reads 1.97 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 1.50% while standing at 1.45% over the month.
Analysts are in expectations that Public Service Enterprise Group Inc. (PEG) stock would likely to be making an EPS of $0.52 in the current quarter, while forecast for next quarter EPS is $1.43 and it is $3.67 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.49 which is $0.55 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 -0.22% while it is estimated to increase by 6.26% 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.
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 Guggenheim on January 22, 2024 offering a Neutral rating for the stock and assigned a target price of $61 to it.
