Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Reaves W H & Co. Inc.

Reaves W H & Co. Inc. boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 828,610 shares of the utilities provider’s stock after buying an additional 62,274 shares during the quarter. Public Service Enterprise Group accounts for approximately 1.9% of Reaves W H & Co. Inc.’s holdings, making the stock its 25th biggest holding. Reaves W H & Co. Inc. owned about 0.17% of Public Service Enterprise Group worth $70,009,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter worth $35,000. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group in the 4th quarter worth $35,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group in the 4th quarter worth $54,000. Financial Life Planners acquired a new position in Public Service Enterprise Group in the 4th quarter worth $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in Public Service Enterprise Group in the 4th quarter worth $57,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $81.79 on Tuesday. 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 Incorporated has a fifty-two week low of $61.99 and a fifty-two week high of $95.22. The firm has a 50-day simple moving average of $84.71 and a 200 day simple moving average of $86.08. The company has a market cap of $40.75 billion, a PE ratio of 20.10, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.08%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Scotiabank upped their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Bank of America cut their target price 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. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

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.