Larson Financial Group LLC Acquires 139 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Larson Financial Group LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,518 shares of the utilities provider’s stock after acquiring an additional 139 shares during the period. Larson Financial Group LLC’s holdings in Public Service Enterprise Group were worth $128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in Public Service Enterprise Group during the fourth quarter valued at $2,472,000. Andra AP fonden grew its holdings in Public Service Enterprise Group by 2.3% during the fourth quarter. Andra AP fonden now owns 227,400 shares of the utilities provider’s stock valued at $19,213,000 after purchasing an additional 5,200 shares during the period. Edgestream Partners L.P. grew its holdings in Public Service Enterprise Group by 106.7% during the fourth quarter. Edgestream Partners L.P. now owns 8,625 shares of the utilities provider’s stock valued at $729,000 after purchasing an additional 4,453 shares during the period. Callan Family Office LLC bought a new position in Public Service Enterprise Group during the fourth quarter valued at $669,000. Finally, Welch & Forbes LLC grew its holdings in Public Service Enterprise Group by 171.6% during the fourth quarter. Welch & Forbes LLC now owns 11,170 shares of the utilities provider’s stock valued at $944,000 after purchasing an additional 7,058 shares during the period. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research reports. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Bank of America cut their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. BMO Capital Markets raised their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Scotiabank raised their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

Public Service Enterprise Group Trading Down 0.0 %

Shares of PEG stock opened at $78.58 on Wednesday. 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 Incorporated has a 52-week low of $63.31 and a 52-week high of $95.22. The company has a market capitalization of $39.17 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The business’s fifty day moving average is $84.04 and its 200 day moving average is $86.03.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data 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 company had revenue of $2.47 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.21%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Insider Buying and Selling

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 shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.