Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by First American Bank

First American Bank grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% during the 4th quarter, Holdings Channel reports. The firm owned 43,564 shares of the utilities provider’s stock after purchasing an additional 225 shares during the quarter. First American Bank’s holdings in Public Service Enterprise Group were worth $3,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of 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. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group in the 4th quarter valued at $35,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth $54,000. Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $56,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $57,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 2.6 %

NYSE:PEG opened at $80.76 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $61.36 and a 52 week high of $95.22. The stock’s fifty day moving average is $84.86 and its two-hundred day moving average is $85.99. The stock has a market capitalization of $40.24 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

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

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.12%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Analyst Ratings Changes

PEG has been the topic of a number of recent research reports. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Wells Fargo & Company lowered their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday. BMO Capital Markets increased their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.50.

Insiders Place Their Bets

In related 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 transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company 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.