Ballentine Partners LLC Purchases 308 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Ballentine Partners LLC grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,976 shares of the utilities provider’s stock after acquiring an additional 308 shares during the quarter. Ballentine Partners LLC’s holdings in Public Service Enterprise Group were worth $251,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Heritage Wealth Management Inc. purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $422,000. DRW Securities LLC purchased a new position in Public Service Enterprise Group in the third quarter worth about $8,244,000. Cullen Investment Group LTD. increased its stake in Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in Public Service Enterprise Group during the third quarter valued at approximately $2,860,000. Finally, Cerity Partners LLC raised its position in Public Service Enterprise Group by 36.1% during the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock valued at $8,575,000 after purchasing an additional 25,503 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock worth $722,037 over the last quarter. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Down 0.1 %

NYSE:PEG opened at $88.04 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market cap of $43.86 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65. The company has a 50-day moving average of $87.80 and a 200 day moving average of $84.86. Public Service Enterprise Group Incorporated has a 1-year low of $56.91 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PEG shares. Scotiabank increased their price target 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. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Barclays reduced their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company increased their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Four 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 stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $89.17.

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.