Peapack Gladstone Financial Corp Has $16.30 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Peapack Gladstone Financial Corp decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 192,897 shares of the utilities provider's stock after selling 5,135 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Public Service Enterprise Group were worth $16,297,000 at the end of the most recent reporting period.

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

Public Service Enterprise Group Price Performance

NYSE PEG traded up $0.46 on Friday, hitting $81.69. 614,471 shares of the company's stock were exchanged, compared to its average volume of 2,712,480. The stock has a 50-day moving average of $81.96 and a 200-day moving average of $85.76. The stock has a market cap of $40.73 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 52 week low of $64.03 and a 52 week high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

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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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for 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%. The firm's revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.08%. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group's payout ratio is presently 71.19%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company's stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on PEG shares. StockNews.com lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Tuesday. LADENBURG THALM/SH SH lowered 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. Guggenheim restated a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, Barclays dropped their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.