10,351 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,351 shares of the utilities provider's stock, valued at approximately $875,000.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in shares of Public Service Enterprise Group by 5.2% in the 3rd quarter. Creative Planning now owns 95,695 shares of the utilities provider's stock worth $8,537,000 after acquiring an additional 4,710 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of Public Service Enterprise Group by 9.3% in the 3rd quarter. Whittier Trust Co. now owns 4,705 shares of the utilities provider's stock worth $420,000 after acquiring an additional 402 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 14.5% in the 3rd quarter. Foundations Investment Advisors LLC now owns 68,994 shares of the utilities provider's stock worth $6,155,000 after acquiring an additional 8,745 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 3.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,846 shares of the utilities provider's stock worth $1,770,000 after acquiring an additional 575 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Public Service Enterprise Group by 3.9% in the 3rd quarter. Signaturefd LLC now owns 7,292 shares of the utilities provider's stock worth $650,000 after acquiring an additional 273 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PEG. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Guggenheim reaffirmed a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group upped their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.83.

Public Service Enterprise Group Trading Down 1.0 %

Shares of Public Service Enterprise Group stock traded down $0.85 on Friday, hitting $83.82. 4,699,113 shares of the company's stock traded hands, compared to its average volume of 2,204,013. The firm's 50-day moving average price is $84.99 and its two-hundred day moving average price is $85.89. The stock has a market capitalization of $41.76 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a one year low of $59.29 and a one year 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.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is currently 58.97%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by corporate insiders.

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.