Fortis Group Advisors LLC Increases Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Fortis Group Advisors LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 32.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,458 shares of the utilities provider’s stock after buying an additional 3,777 shares during the quarter. Fortis Group Advisors LLC’s holdings in Public Service Enterprise Group were worth $956,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PEG. Modera Wealth Management LLC raised its stake in shares of Public Service Enterprise Group by 2.6% in the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 170 shares during the last quarter. Strategic Investment Advisors MI lifted its holdings in Public Service Enterprise Group by 1.0% in the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after acquiring an additional 179 shares during the period. Lido Advisors LLC lifted its holdings in Public Service Enterprise Group by 4.1% in the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 183 shares during the period. Signaturefd LLC lifted its holdings in Public Service Enterprise Group by 2.3% in the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock valued at $519,000 after acquiring an additional 187 shares during the period. Finally, Spire Wealth Management lifted its holdings in Public Service Enterprise Group by 3.6% in the fourth quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock valued at $321,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 3,148 shares of company stock valued at $212,750 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 0.8 %

Shares of PEG stock traded down $0.57 on Friday, reaching $72.64. 2,507,110 shares of the company’s stock were exchanged, compared to its average volume of 2,367,796. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $75.82. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $36.18 billion, a PE ratio of 20.12, a P/E/G ratio of 3.04 and a beta of 0.59. The company’s fifty day simple moving average is $71.17 and its 200 day simple moving average is $65.05.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the business posted $1.39 earnings per share. Public Service Enterprise Group’s revenue was down 26.5% on a year-over-year basis. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BMO Capital Markets lowered their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. Bank of America upped their price target on Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Evercore ISI upped their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Mizuho upped their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company upped their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $69.92.

View Our Latest Report on PEG

Public Service Enterprise Group Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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