Oppenheimer & Co. Inc. Purchases 18,503 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Oppenheimer & Co. Inc. boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,272 shares of the utilities provider’s stock after purchasing an additional 18,503 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Public Service Enterprise Group were worth $9,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Public Service Enterprise Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider’s stock worth $5,134,882,000 after purchasing an additional 492,517 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Public Service Enterprise Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider’s stock valued at $1,027,725,000 after acquiring an additional 365,666 shares during the last quarter. Invesco Ltd. increased its stake in shares of Public Service Enterprise Group by 10.2% in the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider’s stock valued at $551,323,000 after acquiring an additional 604,978 shares during the last quarter. Northern Trust Corp increased its stake in shares of Public Service Enterprise Group by 6.1% in the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider’s stock valued at $490,644,000 after acquiring an additional 335,135 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $445,005,000. 73.34% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

A number of analysts have recently commented on PEG shares. Guggenheim lowered their price target on 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. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st. Finally, Evercore ISI lowered their price target 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $89.54.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $83.44 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a 50 day simple moving average of $80.35 and a 200 day simple moving average of $82.42. Public Service Enterprise Group Incorporated has a 52-week low of $72.82 and a 52-week high of $95.22. The firm has a market capitalization of $41.64 billion, a PE ratio of 22.80, a P/E/G ratio of 2.94 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data 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 11.80% and a net margin of 17.01%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the firm earned $1.31 EPS. Public Service Enterprise Group’s quarterly revenue was up 16.7% compared to the same quarter last year. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 68.85%.

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.