Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 104.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,040 shares of the utilities provider’s stock after buying an additional 7,159 shares during the period. Golden State Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $1,155,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PEG. IFP Advisors Inc increased its position in shares of Public Service Enterprise Group by 14.3% in the 4th quarter. IFP Advisors Inc now owns 17,341 shares of the utilities provider’s stock worth $1,465,000 after purchasing an additional 2,171 shares during the last quarter. FourThought Financial Partners LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $377,000. Amalgamated Bank increased its holdings in Public Service Enterprise Group by 1.2% in the fourth quarter. Amalgamated Bank now owns 102,144 shares of the utilities provider’s stock valued at $8,630,000 after buying an additional 1,203 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Public Service Enterprise Group by 6.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 145,903 shares of the utilities provider’s stock valued at $12,327,000 after buying an additional 8,751 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Public Service Enterprise Group by 3.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 7,378 shares of the utilities provider’s stock valued at $623,000 after buying an additional 261 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $82.77 on Thursday. The company has a 50-day moving average price of $80.33 and a two-hundred day moving average price of $82.43. Public Service Enterprise Group Incorporated has a 52 week low of $72.82 and a 52 week high of $95.22. The stock has a market cap of $41.30 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 2.98 and a beta of 0.48. 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 (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, hitting analysts’ consensus estimates 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 prior year, the company posted $1.31 EPS. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America decreased their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a report on Thursday, April 10th. 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 report on Wednesday, March 19th. Finally, Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, June 18th. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.54.

Insider Activity at Public Service Enterprise Group

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

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.