Bailard Inc. Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bailard Inc. purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 17,254 shares of the utilities provider’s stock, valued at approximately $1,055,000.

Several other large investors have also recently added to or reduced their stakes in PEG. IFP Advisors Inc raised its holdings in Public Service Enterprise Group by 16.9% during the third quarter. IFP Advisors Inc now owns 1,657 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 239 shares in the last quarter. Czech National Bank raised its holdings in Public Service Enterprise Group by 47.7% during the third quarter. Czech National Bank now owns 87,234 shares of the utilities provider’s stock worth $4,964,000 after purchasing an additional 28,167 shares in the last quarter. Spirit of America Management Corp NY raised its holdings in Public Service Enterprise Group by 35.2% during the third quarter. Spirit of America Management Corp NY now owns 9,600 shares of the utilities provider’s stock worth $546,000 after purchasing an additional 2,500 shares in the last quarter. Quaker Wealth Management LLC raised its holdings in Public Service Enterprise Group by 17.9% during the third quarter. Quaker Wealth Management LLC now owns 4,602 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 700 shares in the last quarter. Finally, My Legacy Advisors LLC purchased a new position in Public Service Enterprise Group during the third quarter worth about $335,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PEG shares. Evercore ISI increased their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Bank of America increased their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Guggenheim cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price for the company. in a report on Monday, January 22nd. Finally, BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Trading Down 0.3 %

NYSE PEG traded down $0.20 during mid-day trading on Friday, reaching $67.89. 580,129 shares of the stock were exchanged, compared to its average volume of 2,812,659. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $68.31. The business’s fifty day simple moving average is $64.48 and its 200 day simple moving average is $62.22. The stock has a market capitalization of $33.85 billion, a PE ratio of 13.27, a PEG ratio of 2.94 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. Public Service Enterprise Group’s revenue was down 17.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold a total of 7,948 shares of company stock valued at $511,814 over the last quarter. Company insiders own 0.57% of the company’s stock.

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.