Brighton Jones LLC Has $605,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Brighton Jones LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 25.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,892 shares of the utilities provider’s stock after acquiring an additional 2,034 shares during the period. Brighton Jones LLC’s holdings in Public Service Enterprise Group were worth $605,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Addison Advisors LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $31,000. Operose Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at about $36,000. CNB Bank bought a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $34,000. Finally, Anchor Investment Management LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth $37,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Barclays lifted their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Scotiabank reduced their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred 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 directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares in the company, 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 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Up 1.1 %

PEG stock opened at $69.81 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $34.81 billion, a PE ratio of 19.34, a PEG ratio of 3.02 and a beta of 0.56. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $70.46. The stock has a 50-day simple moving average of $65.17 and a two-hundred day simple moving average of $62.48.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.19%. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s payout ratio is presently 66.48%.

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.