United Capital Financial Advisors LLC Grows Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

United Capital Financial Advisors LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% during the fourth quarter, Holdings Channel reports. The firm owned 13,220 shares of the utilities provider’s stock after acquiring an additional 311 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,117,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth $35,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $39,000. Nemes Rush Group LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth $53,000. Stonebridge Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $54,000. Finally, Financial Life Planners purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $56,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $83.33 on Friday. The stock has a 50 day moving average price of $81.89 and a 200 day moving average price of $85.55. Public Service Enterprise Group Incorporated has a 52-week low of $65.26 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market capitalization of $41.55 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates 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 revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. As a group, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Bank of America lowered 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. BMO Capital Markets cut their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. Barclays decreased their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.35.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at $18,372,009.60. The trade was a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group 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.