Greenleaf Trust Has $678,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Greenleaf Trust increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,090 shares of the utilities provider’s stock after buying an additional 595 shares during the period. Greenleaf Trust’s holdings in Public Service Enterprise Group were worth $678,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $1,185,000. Allspring Global Investments Holdings LLC grew its holdings in Public Service Enterprise Group by 4.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after purchasing an additional 17,838 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after purchasing an additional 169,425 shares during the last quarter. PATRIZIA Pty Ltd acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $5,158,000. Finally, Arvest Investments Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $2,108,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,748 shares of company stock valued at $498,658. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on PEG shares. Barclays increased their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Monday, January 22nd. Scotiabank reduced their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday. Finally, Bank of America increased their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Stock Up 1.5 %

Shares of PEG stock opened at $66.71 on Tuesday. The stock has a market cap of $33.26 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.51. The stock has a fifty day moving average price of $63.98 and a 200 day moving average price of $62.08. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business’s revenue was down 17.0% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. Analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.60%. Public Service Enterprise Group’s payout ratio is presently 46.78%.

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.