Public Service Enterprise Group Incorporated (NYSE:PEG) Position Increased by Captrust Financial Advisors

Captrust Financial Advisors lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 113,157 shares of the utilities provider’s stock after buying an additional 3,652 shares during the quarter. Captrust Financial Advisors’ holdings in Public Service Enterprise Group were worth $9,561,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $35,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group in the 4th quarter worth approximately $39,000. Finally, Optiver Holding B.V. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $50,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PEG shares. Guggenheim dropped their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Barclays lowered their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI decreased their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Finally, StockNews.com cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $88.81.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $79.77 on Thursday. The company’s fifty day moving average is $81.06 and its two-hundred day moving average is $84.70. The company has a market cap of $39.81 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12-month low of $71.49 and a 12-month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

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.