NewEdge Advisors LLC Has $4.06 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

NewEdge Advisors LLC lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 26.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,996 shares of the utilities provider's stock after purchasing an additional 9,950 shares during the quarter. NewEdge Advisors LLC's holdings in Public Service Enterprise Group were worth $4,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $35,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group in the fourth quarter worth $39,000. Nemes Rush Group LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $53,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $54,000. Finally, Financial Life Planners bought a new position in Public Service Enterprise Group in the 4th quarter worth $56,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. This trade represents a 0.62 % 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. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Trading Down 1.1 %

Shares of NYSE:PEG traded down $0.92 during trading on Friday, hitting $80.80. 618,947 shares of the company's stock were exchanged, compared to its average volume of 2,803,120. The firm has a 50-day moving average price of $81.70 and a two-hundred day moving average price of $85.28. The firm has a market cap of $40.28 billion, a P/E ratio of 19.85, a PEG ratio of 2.78 and a beta of 0.52. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 1-year low of $66.57 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced 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 analysts' expectations 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 in the prior year, the business posted $0.54 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th 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 3.12%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, Barclays decreased their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.35.

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.