Bowman & Co S.C. Has $960,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bowman & Co S.C. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,362 shares of the utilities provider’s stock after purchasing an additional 609 shares during the period. Bowman & Co S.C.’s holdings in Public Service Enterprise Group were worth $960,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Public Service Enterprise Group by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock valued at $127,809,000 after buying an additional 163,333 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Public Service Enterprise Group by 33.8% during the 2nd quarter. Blair William & Co. IL now owns 18,004 shares of the utilities provider’s stock worth $1,327,000 after purchasing an additional 4,546 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $214,000. Intech Investment Management LLC lifted its stake in Public Service Enterprise Group by 8.5% in the 2nd quarter. Intech Investment Management LLC now owns 18,502 shares of the utilities provider’s stock valued at $1,364,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in Public Service Enterprise Group by 1.8% during the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after purchasing an additional 131 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,234 shares of company stock valued at $722,037. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, Barclays lowered their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Public Service Enterprise Group Stock Performance

PEG opened at $88.20 on Friday. The firm has a market cap of $43.94 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. The business’s fifty day moving average is $87.70 and its 200-day moving average is $84.36. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22. 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 released its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

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.