Tower Research Capital LLC TRC Has $2.66 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Tower Research Capital LLC TRC grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 31,521 shares of the utilities provider’s stock after acquiring an additional 4,403 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Public Service Enterprise Group were worth $2,663,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PEG. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Public Service Enterprise Group by 8.5% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 8,527 shares of the utilities provider’s stock valued at $761,000 after acquiring an additional 670 shares in the last quarter. World Investment Advisors LLC acquired a new position in Public Service Enterprise Group during the third quarter valued at approximately $4,403,000. Arvest Bank Trust Division bought a new position in Public Service Enterprise Group in the third quarter valued at approximately $2,860,000. Wilmington Savings Fund Society FSB increased its position in shares of Public Service Enterprise Group by 30.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,189 shares of the utilities provider’s stock worth $909,000 after purchasing an additional 2,384 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Public Service Enterprise Group by 26.9% during the 3rd quarter. Tidal Investments LLC now owns 16,306 shares of the utilities provider’s stock worth $1,455,000 after purchasing an additional 3,461 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 3.7 %

PEG stock opened at $80.29 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $65.36 and a 52 week high of $95.22. The company has a market capitalization of $40.03 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The company’s 50-day simple moving average is $81.82 and its 200 day simple moving average is $85.39. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

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 company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. As a group, sell-side analysts anticipate 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 was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Barclays dropped their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, BMO Capital Markets cut their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $89.35.

About Public Service Enterprise Group

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.