Yousif Capital Management LLC Has $5.37 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Yousif Capital Management LLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 87,886 shares of the utilities provider’s stock after selling 4,161 shares during the period. Yousif Capital Management LLC’s holdings in Public Service Enterprise Group were worth $5,374,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PEG. Rockline Wealth Management LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth $1,185,000. Allspring Global Investments Holdings LLC boosted its stake in 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 worth $25,397,000 after purchasing an additional 17,838 shares in the last quarter. Jennison Associates LLC raised its position in shares of Public Service Enterprise Group by 79.9% during the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after acquiring an additional 397,606 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after acquiring an additional 169,425 shares during the last quarter. Finally, PATRIZIA Pty Ltd bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $5,158,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.3 %

Shares of Public Service Enterprise Group stock opened at $68.09 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $68.31. The business has a 50-day moving average of $64.48 and a two-hundred day moving average of $62.22. The company has a market capitalization of $33.95 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 2.94 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

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

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.52%. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock valued at $511,814 over the last three months. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEG. BMO Capital Markets dropped their target price 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. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Bank of America upped their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Evercore ISI upped their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.15.

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.