Orion Portfolio Solutions LLC Buys 239 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Orion Portfolio Solutions LLC boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,174 shares of the utilities provider’s stock after purchasing an additional 239 shares during the period. Orion Portfolio Solutions LLC’s holdings in Public Service Enterprise Group were worth $2,380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Premier Fund Managers Ltd grew its stake in shares of Public Service Enterprise Group by 10.8% during the 4th quarter. Premier Fund Managers Ltd now owns 36,000 shares of the utilities provider’s stock worth $3,040,000 after acquiring an additional 3,500 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Public Service Enterprise Group by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 157,548 shares of the utilities provider’s stock worth $13,311,000 after purchasing an additional 534 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Public Service Enterprise Group by 6.3% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,069,370 shares of the utilities provider’s stock valued at $90,351,000 after purchasing an additional 63,000 shares during the period. Norges Bank purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $445,005,000. Finally, Blair William & Co. IL boosted its holdings in Public Service Enterprise Group by 3.0% in the 4th quarter. Blair William & Co. IL now owns 22,972 shares of the utilities provider’s stock worth $1,941,000 after buying an additional 661 shares during the period. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PEG shares. Morgan Stanley increased their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets upped their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Guggenheim reaffirmed a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 1.2 %

Shares of PEG stock opened at $83.26 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $41.51 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The business has a 50-day moving average price of $82.77 and a two-hundred day moving average price of $86.11. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.63 dividend. The ex-dividend date was Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.03%. Public Service Enterprise Group’s payout ratio is currently 71.19%.

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.