Blackstart Capital LP increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 366,207 shares of the utilities provider’s stock after acquiring an additional 86,449 shares during the period. Public Service Enterprise Group makes up 6.3% of Blackstart Capital LP’s investment portfolio, making the stock its 2nd largest position. Blackstart Capital LP owned about 0.07% of Public Service Enterprise Group worth $15,726,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after acquiring an additional 47,208,334 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Public Service Enterprise Group by 2.4% in the second quarter. Vanguard Group Inc. now owns 35,870,541 shares of the utilities provider’s stock worth $1,542,792,000 after acquiring an additional 828,458 shares during the last quarter. State Street Corp boosted its position in shares of Public Service Enterprise Group by 1.2% in the first quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock worth $1,200,831,000 after acquiring an additional 319,134 shares during the last quarter. Federated Investors Inc. PA boosted its position in shares of Public Service Enterprise Group by 179.9% in the second quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock worth $288,677,000 after acquiring an additional 4,314,015 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Public Service Enterprise Group by 3.4% in the first quarter. Geode Capital Management LLC now owns 5,441,323 shares of the utilities provider’s stock worth $241,006,000 after acquiring an additional 178,078 shares during the last quarter. 65.88% of the stock is currently owned by institutional investors and hedge funds.

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In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the sale, the chairman now owns 748,121 shares of the company’s stock, valued at $32,042,022.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek M. Dirisio sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. In the last three months, insiders sold 54,900 shares of company stock valued at $2,413,947. 0.61% of the stock is currently owned by company insiders.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same quarter in the previous year, the business posted $0.57 EPS.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.43 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.72%. Public Service Enterprise Group’s payout ratio is 193.26%.

PEG has been the topic of several research analyst reports. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, July 4th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. BidaskClub cut shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Finally, Wolfe Research raised shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research report on Monday, July 17th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Public Service Enterprise Group has an average rating of “Buy” and an average target price of $49.05.

Public Service Enterprise Group Company Profile

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.

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

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