The Vanguard Group, Inc. has recently announced that it has increased stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.27%. After grabbing 41.57 million shares, the institutional investor is now in possession of 0.11 million shares of the Utilities Company. The new investment brought the stake of investor firm to 8.33% having worth around $2.33 billion. Moreover, BlackRock Fund Advisors increased its share by 1.69 million to have a control over 32.38 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.58 million shares by acquiring 31.23 million shares or 6.26% of the stake.
Public Service Enterprise Group Incorporated (PEG) concluded trading on 11/17/22 at a closing price of $55.87, with 3.13 million shares of worth about $174.65 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -17.44% during that period and on Thursday the price saw a loss of about -3.32%. Currently the company’s common shares owned by public are about 498.95M shares, out of which, 498.02M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 18 analysts are covering the PEG stock and their offered price forecasts bring an average price target of $67.13. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $76.00 and could fall to a lowest price of $59.00. The stock’s current price level is 17.91% above of average price target set by the analysts, while a rise to estimated low would result in gain of 5.31% for the stock. However, touching the estimated high of $76.00 would mean a gain of 26.49% 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 59 times over the past 12 months. They bought 234,755 shares in 18 of the transactions. In 41 selling transactions, insiders dumped 215,332 shares.
ClearBridge Developed Markets Inf, American Mutual Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Public Service Enterprise Group Incorporated ClearBridge Developed Markets Inf is currently holding 19.95 million shares of worth totaling $1.12 billion. The company recently came buying 0.2 million shares which brought its stake up to 4.00% of the company’s outstanding shares. American Mutual Fund bought 0.42 million shares, after which its hold over company’s outstanding shares expand to 3.06%, leaving 15.24 million shares with the mutual fund that have a worth of about $854.63 million. Vanguard Total Stock Market Index, after buying 14.89 million shares, have now control over 2.99% of the stake in the company. It holds 90239.0 shares of worth $834.84 million.
Public Service Enterprise Group Incorporated (NYSE: PEG) started trading at $56.84, below -$0.95 from concluding price of the previous day. However, the stock later moved at a day high price of 57.12, or with a loss of -3.32%. Stock saw a price change of -6.13% in past 5 days and over the past one month there was a price change of 1.95%. Year-to-date (YTD), PEG shares are showing a performance of -16.27% which decreased to -10.55% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $52.51 but also hit the highest price of $75.61 during that period. The average intraday trading volume for Public Service Enterprise Group Incorporated shares is 3.11 million. The stock is currently trading -1.49% below its 20-day simple moving average (SMA20), while that difference is down -5.30% for SMA50 and it goes to -13.52% lower than SMA200.
The Vanguard Group, Inc. acquired 41.57 million shares of Public Service Enterprise Group Incorporated having value of about $2.33 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.11 million shares in the company valued at close to $6352083.78, or have control over 0.27% stake in the company. Public Service Enterprise Group Incorporated (NYSE: PEG) currently have 498.95M outstanding shares and institutions hold larger chunk of about 72.70% of that. Holding of mutual funds in the company is about 22.00% while other institutional holders and individual stake holders have control over 50.11% and 0.40% of the stake respectively.
The stock has a current market capitalization of $28.46B and its 3Y-monthly beta is at 0.59. PE ratio of stock for trailing 12 months is 40.81, while it has posted earnings per share of $1.37 in the same period. Its PEG reads 12.75 and has Quick Ratio of 0.50 while making debt-to-equity ratio of 1.50. 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 2.69% while standing at 2.62% over the month.
Analysts are in expectations that Public Service Enterprise Group Incorporated (PEG) stock would likely to be making an EPS of $0.83 in the current quarter, while forecast for next quarter EPS is $0.64 and it is $3.59 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.77 which is $0.89 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 $0.98 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -134.20% while it is estimated to increase by 2.44% in next year. EPS is likely to grow at an annualized rate of 3.20% for next 5-years, compared to annual growth of -22.30% made by the stock over the past 5-years.
Analysts at 18 brokerage firms have issued recommendations for the Public Service Enterprise Group Incorporated (PEG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 18 Wall Street analysts, 10 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Coverage by Credit Suisse stated Public Service Enterprise Group Incorporated (PEG) stock as a Neutral in their note to investors on April 26, 2022, suggesting a price target of $76 for the stock. On March 22, 2022, Citigroup Initiated their recommendations, while on January 25, 2022, Evercore ISI Upgrade their ratings for the stock with a price target of $71. Stock get a Sector weight rating from KeyBanc Capital Markets on January 13, 2022.