Blue Trust Inc. Has $1.29 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Blue Trust Inc. boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,505 shares of the utilities provider’s stock after purchasing an additional 1,409 shares during the quarter. Blue Trust Inc.’s holdings in Public Service Enterprise Group were worth $1,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PEG. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth about $48,000. Legacy Investment Solutions LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth about $59,000. Kimelman & Baird LLC acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth about $66,000. Finally, Fortitude Family Office LLC raised its stake in Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 611 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.5 %

Shares of Public Service Enterprise Group stock opened at $81.71 on Wednesday. Public Service Enterprise Group Incorporated has a 1 year low of $57.24 and a 1 year high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $40.71 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65. The firm’s 50 day moving average is $87.66 and its 200 day moving average is $85.03.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock valued at $722,037 in the last ninety days. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PEG shares. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $88.00 to $84.00 in a research report on Monday. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI boosted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.