Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Blair William & Co. IL

Blair William & Co. IL grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,972 shares of the utilities provider’s stock after acquiring an additional 661 shares during the quarter. Blair William & Co. IL’s holdings in Public Service Enterprise Group were worth $1,941,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Townsquare Capital LLC raised its holdings in Public Service Enterprise Group by 15.6% in the 3rd quarter. Townsquare Capital LLC now owns 5,001 shares of the utilities provider’s stock valued at $446,000 after acquiring an additional 674 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at $519,000. Edgestream Partners L.P. purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at $372,000. Janus Henderson Group PLC lifted its position in Public Service Enterprise Group by 12.5% during the third quarter. Janus Henderson Group PLC now owns 107,082 shares of the utilities provider’s stock worth $9,553,000 after buying an additional 11,864 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Public Service Enterprise Group by 8,334.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 380,832 shares of the utilities provider’s stock worth $33,974,000 after buying an additional 376,317 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.2 %

PEG opened at $83.26 on Wednesday. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $41.51 billion, a PE ratio of 20.46, a P/E/G ratio of 2.78 and a beta of 0.60. The firm’s fifty day moving average price is $82.77 and its 200 day moving average price is $86.11.

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, beating analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 EPS. As a group, research analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Guggenheim restated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

About Public Service Enterprise Group

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.