Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,030,083 shares of the utilities provider’s stock after acquiring an additional 78,452 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Public Service Enterprise Group were worth $256,012,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter valued at $35,000. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $35,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at about $54,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $56,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter worth approximately $59,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Guggenheim reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on 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. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Six equities 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 stock. 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.

Public Service Enterprise Group Trading Up 0.3 %

Shares of NYSE PEG opened at $81.68 on Thursday. The business has a 50 day simple moving average of $84.54 and a 200 day simple moving average of $86.06. Public Service Enterprise Group Incorporated has a 52 week low of $63.31 and a 52 week high of $95.22. The stock has a market cap of $40.70 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.78 and a beta of 0.64. 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) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm 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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.09%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company Profile

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.