Proficio Capital Partners LLC Buys Shares of 145,000 Public Service Enterprise Group Incorporated (NYSE:PEG)

Proficio Capital Partners LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 145,000 shares of the utilities provider's stock, valued at approximately $12,251,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC increased its holdings in Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock valued at $7,403,000 after acquiring an additional 18,627 shares in the last quarter. DRW Securities LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $8,244,000. Cullen Investment Group LTD. increased its stake in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock valued at $2,270,000 after purchasing an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $2,565,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Bank of America decreased their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research report on Wednesday. Guggenheim reaffirmed a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.27.

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Public Service Enterprise Group Price Performance

PEG stock traded up $1.04 during trading on Wednesday, hitting $83.21. The company had a trading volume of 1,846,390 shares, compared to its average volume of 2,546,148. The business has a 50 day moving average of $83.61 and a 200 day moving average of $86.04. The firm has a market capitalization of $41.48 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 2.78 and a beta of 0.60. 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 fifty-two week low of $63.54 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data 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 business 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 business's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share. 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 Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's payout ratio is currently 71.19%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.