Harrell Investment Partners LLC Acquires 216 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Harrell Investment Partners LLC boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 30,710 shares of the utilities provider’s stock after purchasing an additional 216 shares during the period. Harrell Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $2,527,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Public Service Enterprise Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider’s stock worth $5,134,882,000 after buying an additional 492,517 shares in the last quarter. Geode Capital Management LLC grew its stake in Public Service Enterprise Group by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider’s stock worth $1,027,725,000 after buying an additional 365,666 shares in the last quarter. Invesco Ltd. grew its stake in Public Service Enterprise Group by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider’s stock worth $551,323,000 after buying an additional 604,978 shares in the last quarter. Northern Trust Corp grew its stake in Public Service Enterprise Group by 6.1% during the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider’s stock worth $490,644,000 after buying an additional 335,135 shares in the last quarter. Finally, Norges Bank acquired a new stake in Public Service Enterprise Group during the fourth quarter worth about $445,005,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.2%

PEG opened at $81.99 on Thursday. The company’s 50 day moving average is $80.34 and its 200-day moving average is $82.73. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a 1-year low of $72.82 and a 1-year high of $95.22. The company has a market cap of $40.92 billion, a P/E ratio of 22.40, a PEG ratio of 2.90 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the company earned $1.31 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.07%. Public Service Enterprise Group’s dividend payout ratio is presently 68.85%.

Insider Buying and Selling

In related 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 transaction of $109,220.28. Following the sale, the chief executive officer now directly owns 221,093 shares in the company, valued at $17,523,831.18. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st. Evercore ISI reduced their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Barclays reduced 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 shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $89.54.

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.