8,188 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, Holdings Channel.com reports. The firm purchased 8,188 shares of the utilities provider’s stock, valued at approximately $535,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rockline Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $1,185,000. Allspring Global Investments Holdings LLC grew its stake in shares of Public Service Enterprise Group by 4.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after buying an additional 17,838 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Public Service Enterprise Group by 79.9% in the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after buying an additional 397,606 shares during the last quarter. TD Asset Management Inc boosted its stake in Public Service Enterprise Group by 16.6% during the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock valued at $23,047,000 after purchasing an additional 53,577 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Public Service Enterprise Group by 5,613.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after purchasing an additional 169,425 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $73.29 on Thursday. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $75.82. The stock’s fifty day moving average is $71.55 and its 200 day moving average is $65.26. The stock has a market cap of $36.50 billion, a P/E ratio of 20.30, a P/E/G ratio of 3.04 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the business posted $1.39 earnings per share. Public Service Enterprise Group’s revenue for the quarter was down 26.5% compared to the same quarter last year. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.27%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Mizuho increased their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Barclays increased their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Scotiabank cut their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 2,948 shares of company stock valued at $199,910. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group 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.