Tower Research Capital LLC TRC Acquires 4,403 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Tower Research Capital LLC TRC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,521 shares of the utilities provider's stock after purchasing an additional 4,403 shares during the quarter. Tower Research Capital LLC TRC's holdings in Public Service Enterprise Group were worth $2,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Transce3nd LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at about $25,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Public Service Enterprise Group by 4.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 25,291 shares of the utilities provider's stock valued at $2,137,000 after purchasing an additional 1,056 shares during the last quarter. MetLife Investment Management LLC lifted its position in Public Service Enterprise Group by 1.8% during the fourth quarter. MetLife Investment Management LLC now owns 131,876 shares of the utilities provider's stock valued at $11,142,000 after purchasing an additional 2,335 shares during the period. Natixis boosted its holdings in Public Service Enterprise Group by 24.2% in the fourth quarter. Natixis now owns 63,990 shares of the utilities provider's stock worth $5,407,000 after purchasing an additional 12,470 shares during the last quarter. Finally, Norinchukin Bank The grew its position in Public Service Enterprise Group by 11.8% in the 4th quarter. Norinchukin Bank The now owns 23,597 shares of the utilities provider's stock worth $1,994,000 after purchasing an additional 2,491 shares during the period. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PEG. Wells Fargo & Company cut their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a research note on Wednesday, March 19th. Bank of America lowered their price objective on shares of 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. Morgan Stanley boosted 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 report on Thursday, March 20th. Finally, Guggenheim reiterated a "buy" rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and a consensus price target of $89.35.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

PEG stock traded down $0.73 during trading on Friday, reaching $80.99. The company's stock had a trading volume of 2,886,115 shares, compared to its average volume of 2,717,892. The company's fifty day moving average is $81.70 and its 200-day moving average is $85.28. Public Service Enterprise Group Incorporated has a 1 year low of $66.57 and a 1 year high of $95.22. The company has a market capitalization of $40.38 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the business posted $0.54 earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.11%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's payout ratio is currently 71.19%.

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.