Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Position Boosted by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,468 shares of the utilities provider’s stock after acquiring an additional 144 shares during the period. Douglas Lane & Associates LLC’s holdings in Public Service Enterprise Group were worth $208,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the 3rd quarter valued at $48,000. Legacy Investment Solutions LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $59,000. Kimelman & Baird LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth $66,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Public Service Enterprise Group by 325.0% in the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after buying an additional 611 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 0.2 %

Shares of Public Service Enterprise Group stock opened at $85.27 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The stock has a 50-day moving average price of $87.59 and a 200 day moving average price of $83.83. The company has a market cap of $42.48 billion, a P/E ratio of 20.95, a P/E/G ratio of 3.18 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) 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 business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analyst Ratings Changes

Several brokerages have commented on PEG. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, UBS Group boosted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Transactions at Public Service Enterprise Group

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