3,497 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Carret Asset Management LLC

Carret Asset Management LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,497 shares of the utilities provider’s stock, valued at approximately $214,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after buying an additional 7,103,657 shares during the last quarter. JPMorgan Chase & Co. raised its position in Public Service Enterprise Group by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Public Service Enterprise Group by 1.3% in the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock valued at $401,173,000 after purchasing an additional 87,974 shares in the last quarter. Northern Trust Corp grew its position in shares of Public Service Enterprise Group by 2.8% in the third quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock valued at $350,395,000 after purchasing an additional 170,586 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Public Service Enterprise Group by 4.1% during the 3rd quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock worth $319,407,000 after purchasing an additional 221,071 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 0.7 %

NYSE:PEG traded up $0.45 during trading hours on Thursday, reaching $67.68. 564,339 shares of the company were exchanged, compared to its average volume of 2,816,629. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $67.68. The stock has a 50 day simple moving average of $64.31 and a 200 day simple moving average of $62.18. The firm has a market cap of $33.74 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.91 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

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

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s payout ratio is currently 46.78%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $91,192.38. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now directly 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. Over the last quarter, insiders have sold 7,948 shares of company stock worth $511,814. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PEG. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. Finally, Scotiabank decreased their price target on shares of 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $67.15.

About Public Service Enterprise Group

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.