Commonwealth Equity Services LLC Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Commonwealth Equity Services LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 271,322 shares of the utilities provider's stock after purchasing an additional 14,600 shares during the period. Commonwealth Equity Services LLC owned approximately 0.05% of Public Service Enterprise Group worth $22,924,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Foundations Investment Advisors LLC lifted its position in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock worth $7,403,000 after purchasing an additional 18,627 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter worth approximately $8,244,000. Cullen Investment Group LTD. lifted its position in shares of Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock worth $2,270,000 after purchasing an additional 10,610 shares in the last quarter. Arvest Bank Trust Division acquired a new position in shares of Public Service Enterprise Group during the third quarter worth approximately $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $2,565,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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Public Service Enterprise Group Trading Up 0.2 %

Shares of NYSE:PEG traded up $0.19 during mid-day trading on Thursday, hitting $83.32. The company had a trading volume of 3,080,904 shares, compared to its average volume of 2,548,251. The firm has a fifty day moving average price of $83.57 and a 200 day moving average price of $86.02. The company has a market capitalization of $41.54 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 Incorporated has a one year low of $63.54 and a one year high of $95.22.

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

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PEG shares. Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Bank of America cut their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. StockNews.com upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research note on Wednesday. Finally, Scotiabank upped their target price 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $89.65.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.57% of the company's stock.

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.