Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Greenleaf Trust

Greenleaf Trust boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,090 shares of the utilities provider’s stock after acquiring an additional 595 shares during the period. Greenleaf Trust’s holdings in Public Service Enterprise Group were worth $678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cutler Investment Counsel LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth about $225,000. Daiwa Securities Group Inc. grew its holdings in shares of Public Service Enterprise Group by 6.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 45,038 shares of the utilities provider’s stock worth $2,754,000 after buying an additional 2,671 shares in the last quarter. Key Financial Inc grew its holdings in shares of Public Service Enterprise Group by 187.9% during the fourth quarter. Key Financial Inc now owns 7,065 shares of the utilities provider’s stock worth $432,000 after buying an additional 4,611 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Public Service Enterprise Group by 7.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 160,891 shares of the utilities provider’s stock valued at $9,838,000 after purchasing an additional 10,813 shares during the period. Finally, SVB Wealth LLC grew its holdings in Public Service Enterprise Group by 12.6% in the fourth quarter. SVB Wealth LLC now owns 5,740 shares of the utilities provider’s stock valued at $351,000 after purchasing an additional 641 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.5 %

NYSE PEG opened at $66.71 on Tuesday. The company’s fifty day simple moving average is $63.98 and its 200-day simple moving average is $62.08. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $67.51. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The stock has a market cap of $33.26 billion, a P/E ratio of 13.00, a PEG ratio of 2.88 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was down 17.0% compared to the same quarter last year. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared 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 is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.60%. Public Service Enterprise Group’s dividend payout ratio is presently 46.78%.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold 7,748 shares of company stock valued at $498,658 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Scotiabank lowered their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday. Royal Bank of Canada boosted their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, TheStreet upgraded shares of 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, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.15.

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.