C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New $875,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,351 shares of the utilities provider's stock, valued at approximately $875,000.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter worth $35,000. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group in the 4th quarter valued at about $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter valued at about $48,000. Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth about $54,000. Finally, Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $56,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEG has been the topic of a number of recent analyst reports. UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research report on Thursday, December 12th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. Guggenheim reaffirmed a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of "Moderate Buy" and a consensus target price of $88.83.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded down $0.03 during trading on Monday, hitting $83.85. 1,665,285 shares of the stock were exchanged, compared to its average volume of 2,227,200. The stock has a market cap of $41.78 billion, a PE ratio of 20.60, a P/E/G ratio of 2.77 and a beta of 0.64. The stock's fifty day moving average is $85.18 and its 200 day moving average is $85.78. Public Service Enterprise Group Incorporated has a 12 month low of $58.96 and a 12 month high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group Increases Dividend

The firm also recently announced 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. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 58.97%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold a total of 3,712 shares of company stock worth $317,644 over the last ninety days. 0.57% of the stock is currently owned by corporate 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.