Public Service Enterprise Group Incorporated (NYSE:PEG) Stake Increased by Cetera Investment Advisers

Cetera Investment Advisers raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,226 shares of the utilities provider’s stock after acquiring an additional 607 shares during the quarter. Cetera Investment Advisers’ holdings in Public Service Enterprise Group were worth $10,580,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent research reports. Guggenheim lowered their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Barclays dropped their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a research note on Wednesday, March 19th. StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. Finally, Bank of America lowered their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Hold” and an average target price of $88.81.

Public Service Enterprise Group Trading Down 0.7 %

Public Service Enterprise Group stock opened at $78.92 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $71.89 and a 12-month high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $39.38 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The firm has a 50 day simple moving average of $80.97 and a 200-day simple moving average of $84.50.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) 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 company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm earned $1.31 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, May 1st. The shares were 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 approximately $17,523,831.18. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

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.