Crews Bank & Trust Purchases New Shares in Public Service Enterprise Group Incorporated (NYSE:PEG)

Crews Bank & Trust bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,321 shares of the utilities provider's stock, valued at approximately $788,000.

Other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its position in Public Service Enterprise Group by 1.1% during the second quarter. Mackenzie Financial Corp now owns 51,118 shares of the utilities provider's stock worth $3,767,000 after purchasing an additional 566 shares during the period. Creative Planning boosted its holdings in Public Service Enterprise Group by 17.5% in the 2nd quarter. Creative Planning now owns 90,985 shares of the utilities provider's stock worth $6,706,000 after buying an additional 13,559 shares during the period. NewEdge Advisors LLC grew its stake in Public Service Enterprise Group by 22.1% in the 2nd quarter. NewEdge Advisors LLC now owns 27,559 shares of the utilities provider's stock valued at $2,031,000 after buying an additional 4,993 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Public Service Enterprise Group by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,682 shares of the utilities provider's stock worth $2,114,000 after acquiring an additional 2,003 shares in the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Public Service Enterprise Group by 1.0% in the second quarter. Truist Financial Corp now owns 168,545 shares of the utilities provider's stock worth $12,422,000 after acquiring an additional 1,740 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

NYSE PEG traded up $0.20 on Monday, reaching $83.74. 1,198,295 shares of the company's stock traded hands, compared to its average volume of 2,309,344. The stock has a market cap of $41.72 billion, a PE ratio of 20.57, a P/E/G ratio of 2.67 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 12 month low of $57.24 and a 12 month high of $95.22. The stock has a 50-day simple moving average of $86.97 and a 200 day simple moving average of $85.24. 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 (NYSE:PEG - Get Free Report) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter last year, the company earned $0.85 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 58.97%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Scotiabank increased 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. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Barclays lowered shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group raised their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average target price of $88.83.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares of the company's stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock worth $722,037 in the last ninety days. 0.18% of the stock is owned by company insiders.

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.