HighTower Advisors LLC Purchases 5,032 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

HighTower Advisors LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 166,827 shares of the utilities provider's stock after purchasing an additional 5,032 shares during the period. HighTower Advisors LLC's holdings in Public Service Enterprise Group were worth $14,095,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. SPX Gestao de Recursos Ltda increased its position in Public Service Enterprise Group by 0.9% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 114,630 shares of the utilities provider's stock worth $9,685,000 after purchasing an additional 1,000 shares during the last quarter. Global View Capital Management LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth $224,000. Citizens Financial Group Inc. RI bought a new stake in Public Service Enterprise Group in the fourth quarter worth $248,000. Sage Mountain Advisors LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth $241,000. Finally, Independent Advisor Alliance increased its position in Public Service Enterprise Group by 14.2% in the fourth quarter. Independent Advisor Alliance now owns 10,022 shares of the utilities provider's stock worth $847,000 after purchasing an additional 1,245 shares during the last quarter. Institutional investors own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent analyst reports. Guggenheim reaffirmed a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Friday, March 14th. Bank of America dropped their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and an average price target of $89.65.

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Public Service Enterprise Group Stock Up 0.2 %

Shares of PEG stock traded up $0.19 on Thursday, hitting $83.32. The stock had a trading volume of 3,080,899 shares, compared to its average volume of 2,548,251. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average price of $83.57 and a 200 day moving average price of $86.02. The company has a market cap of $41.54 billion, a PE ratio of 20.47, a P/E/G ratio of 2.78 and a beta of 0.60. 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 firm 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%. The firm's quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Research 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group's payout ratio is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group 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 completion of the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate 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.