Private Portfolio Partners LLC Purchases 254 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Private Portfolio Partners LLC grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,027 shares of the utilities provider’s stock after purchasing an additional 254 shares during the quarter. Private Portfolio Partners LLC’s holdings in Public Service Enterprise Group were worth $256,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Foundations Investment Advisors LLC grew its stake in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after buying an additional 18,627 shares in the last quarter. Cullen Investment Group LTD. grew its position in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 10,610 shares in the last quarter. Arvest Bank Trust Division bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at $2,860,000. Parsons Capital Management Inc. RI bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $2,565,000. Finally, Czech National Bank lifted its holdings in Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock worth $9,127,000 after purchasing an additional 6,545 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PEG. Guggenheim reiterated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Scotiabank increased their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Bank of America reduced their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Morgan Stanley increased their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group currently has an average 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 the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the transaction, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.7 %

NYSE PEG opened at $83.85 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock’s 50-day simple moving average is $82.68 and its two-hundred day simple moving average is $86.10. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The company has a market capitalization of $41.80 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm posted $0.54 EPS. Public Service Enterprise Group’s revenue for the quarter was down 5.4% compared to the same quarter last year. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. 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%.

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.