Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Blair William & Co. IL

Blair William & Co. IL lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% in the fourth quarter, HoldingsChannel reports. The fund owned 22,972 shares of the utilities provider’s stock after purchasing an additional 661 shares during the quarter. Blair William & Co. IL’s holdings in Public Service Enterprise Group were worth $1,941,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group during the 4th quarter valued at $35,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the fourth quarter valued at about $39,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group during the fourth quarter valued at about $54,000. Financial Life Planners acquired a new position in Public Service Enterprise Group during the fourth quarter worth about $56,000. Finally, Millstone Evans Group LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth about $56,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Up 1.2 %

PEG opened at $83.26 on Wednesday. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The firm has a market cap of $41.51 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. The firm’s 50-day simple moving average is $82.77 and its 200-day simple moving average is $86.11. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $0.63 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Analyst Ratings Changes

PEG has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank upped their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.