Callan Family Office LLC Invests $669,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Callan Family Office LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,916 shares of the utilities provider's stock, valued at approximately $669,000.

Several other institutional investors have also added to or reduced their stakes in PEG. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at $35,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $35,000. Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $54,000. Financial Life Planners bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $56,000. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $57,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Up 1.1 %

Shares of Public Service Enterprise Group stock traded up $0.90 on Friday, hitting $79.10. The company had a trading volume of 4,391,970 shares, compared to its average volume of 2,671,094. The stock has a market capitalization of $39.44 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 1 year low of $63.31 and a 1 year high of $95.22. The stock has a 50 day moving average of $84.27 and a 200-day moving average of $86.03. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate 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 was down 5.4% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PEG. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. 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 report on Wednesday, February 26th. Scotiabank upped their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, Guggenheim reissued a "buy" rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.83.

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.