Rockefeller Capital Management L.P. Buys 7,179 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Rockefeller Capital Management L.P. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 202,743 shares of the utilities provider's stock after purchasing an additional 7,179 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Public Service Enterprise Group were worth $17,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Center for Financial Planning Inc. grew its stake in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock valued at $349,000 after purchasing an additional 120 shares during the period. Spire Wealth Management increased its stake in Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after acquiring an additional 121 shares during the last quarter. United Asset Strategies Inc. raised its stake in shares of Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock worth $416,000 after acquiring an additional 127 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock worth $2,990,000 after buying an additional 139 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock valued at $128,000 after buying an additional 139 shares during the last quarter. 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 Public Service Enterprise Group stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company's stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of PEG traded up $0.30 during mid-day trading on Friday, reaching $83.33. The stock had a trading volume of 2,125,183 shares, compared to its average volume of 2,724,734. The firm has a market cap of $41.55 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 12 month low of $65.26 and a 12 month high of $95.22. The business has a fifty day moving average of $81.89 and a 200 day moving average of $85.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $0.54 EPS. Public Service Enterprise Group's revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.02%. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Wednesday. 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 objective for the company. in a research note on Wednesday, March 19th. Guggenheim reissued a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Barclays decreased their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Seven equities 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.com, the stock has a consensus rating of "Moderate Buy" and an average 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.