Addison Advisors LLC Makes New $31,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Addison Advisors LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 500 shares of the utilities provider’s stock, valued at approximately $31,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Public Service Enterprise Group by 13.0% during the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after acquiring an additional 7,103,657 shares during the period. JPMorgan Chase & Co. increased its position in shares of Public Service Enterprise Group by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares during the period. Legal & General Group Plc increased its position in shares of Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock worth $401,173,000 after acquiring an additional 87,974 shares during the period. Northern Trust Corp increased its position in shares of Public Service Enterprise Group by 2.8% during the third quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock worth $350,395,000 after acquiring an additional 170,586 shares during the period. Finally, Morgan Stanley increased its position in shares of Public Service Enterprise Group by 4.1% during the third quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock worth $319,407,000 after acquiring an additional 221,071 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Public Service Enterprise Group

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

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $0.27 on Friday, hitting $67.82. 2,973,057 shares of the company were exchanged, compared to its average volume of 2,445,853. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $68.39. The stock’s 50 day moving average price is $64.64 and its 200 day moving average price is $62.31. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $33.81 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 2.97 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 the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was down 17.0% compared to the same quarter last year. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.54%. Public Service Enterprise Group’s dividend payout ratio is presently 46.78%.

Analysts Set New Price Targets

PEG has been the topic of a number of research reports. Scotiabank reduced their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Finally, Bank of America lifted their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.