Cerity Partners LLC Increases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Cerity Partners LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,167 shares of the utilities provider's stock after purchasing an additional 4,049 shares during the quarter. Cerity Partners LLC's holdings in Public Service Enterprise Group were worth $8,586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Foundations Investment Advisors LLC boosted its position in shares of Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock worth $7,403,000 after acquiring an additional 18,627 shares in the last quarter. Cullen Investment Group LTD. increased its stake in shares of Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock valued at $2,270,000 after purchasing an additional 10,610 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $2,860,000. Parsons Capital Management Inc. RI bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $2,565,000. Finally, Czech National Bank boosted its stake in Public Service Enterprise Group by 6.4% in the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock valued at $9,127,000 after buying an additional 6,545 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

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Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at $18,372,009.60. This represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $0.41 during mid-day trading on Wednesday, hitting $83.94. 306,482 shares of the stock were exchanged, compared to its average volume of 2,845,051. Public Service Enterprise Group Incorporated has a 12 month low of $64.40 and a 12 month high of $95.22. The company has a 50-day simple moving average of $81.92 and a 200 day simple moving average of $85.66. The company has a market capitalization of $41.85 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.78 and a beta of 0.52. 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 (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, topping 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 return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group's quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.63 per share. The ex-dividend date was Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.00%. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEG. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a research note on Wednesday, March 19th. Barclays decreased their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Wednesday. Morgan Stanley boosted their price objective 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. Finally, Guggenheim reissued 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. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.35.

Public Service Enterprise Group 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.