Parallel Advisors LLC Has $322,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Parallel Advisors LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,809 shares of the utilities provider’s stock after purchasing an additional 652 shares during the quarter. Parallel Advisors LLC’s holdings in Public Service Enterprise Group were worth $322,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Center for Financial Planning Inc. grew its holdings in Public Service Enterprise Group by 3.0% during the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 120 shares during the last quarter. Spire Wealth Management grew its holdings in Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after acquiring an additional 121 shares during the last quarter. First Commonwealth Financial Corp PA grew its holdings in Public Service Enterprise Group by 1.3% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after acquiring an additional 123 shares during the last quarter. United Asset Strategies Inc. grew its holdings in Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 127 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Public Service Enterprise Group by 0.4% during the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $83.00 on Friday. The company has a market capitalization of $41.38 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.78 and a beta of 0.60. The firm’s 50 day simple moving average is $83.50 and its 200 day simple moving average is $86.06. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.04%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Scotiabank increased their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company reduced their target price 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. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a research note on Wednesday. Finally, Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.65.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% 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.