Cutler Investment Counsel LLC Makes New $225,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Cutler Investment Counsel LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,681 shares of the utilities provider’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Rockline Wealth Management LLC acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $1,185,000. Allspring Global Investments Holdings LLC lifted its position in shares of Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after buying an additional 17,838 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Public Service Enterprise Group by 5,613.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after buying an additional 169,425 shares during the last quarter. PATRIZIA Pty Ltd acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $5,158,000. Finally, Arvest Investments Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $2,108,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $65.74 on Friday. The stock’s fifty day moving average price is $63.84 and its two-hundred day moving average price is $61.92. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.51. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The firm has a market cap of $32.78 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the company earned $0.64 EPS. The company’s revenue was down 17.0% on a year-over-year basis. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.65%. Public Service Enterprise Group’s payout ratio is 46.78%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,948 shares of company stock worth $510,300. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEG. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Monday, January 22nd. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. Barclays raised their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Evercore ISI increased their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.58.

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.