Private Advisor Group LLC Has $5.51 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Private Advisor Group LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 90,082 shares of the utilities provider’s stock after buying an additional 5,802 shares during the quarter. Private Advisor Group LLC’s holdings in Public Service Enterprise Group were worth $5,509,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Spire Wealth Management lifted its position in Public Service Enterprise Group by 3.6% during the fourth quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock worth $321,000 after acquiring an additional 189 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Public Service Enterprise Group by 4.0% during the fourth quarter. Metis Global Partners LLC now owns 47,056 shares of the utilities provider’s stock worth $2,877,000 after purchasing an additional 1,796 shares during the period. National Bank of Canada FI lifted its holdings in Public Service Enterprise Group by 7.9% during the 4th quarter. National Bank of Canada FI now owns 131,060 shares of the utilities provider’s stock worth $8,065,000 after purchasing an additional 9,592 shares during the last quarter. Legacy Financial Advisors Inc. boosted its stake in Public Service Enterprise Group by 3.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 13,887 shares of the utilities provider’s stock valued at $849,000 after purchasing an additional 403 shares during the period. Finally, Merit Financial Group LLC grew its holdings in Public Service Enterprise Group by 36.8% in the 4th quarter. Merit Financial Group LLC now owns 8,452 shares of the utilities provider’s stock valued at $517,000 after buying an additional 2,272 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. 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 research note on Monday, March 25th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Barclays raised their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company boosted their price target 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Insider Activity 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 on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. Insiders sold a total of 9,322 shares of company stock valued at $607,376 in the last quarter. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 0.8 %

Shares of PEG opened at $72.55 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $72.93. The firm has a market cap of $36.14 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 3.08 and a beta of 0.56. The business’s fifty day moving average is $66.00 and its 200-day moving average is $62.80.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business’s revenue was down 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. Equities analysts anticipate 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 disclosed 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. This represents a $2.40 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 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.