Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,144 shares of the utilities provider’s stock after acquiring an additional 1,203 shares during the quarter. Amalgamated Bank’s holdings in Public Service Enterprise Group were worth $8,630,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $54,000. Financial Life Planners purchased a new position in Public Service Enterprise Group during the fourth quarter worth approximately $56,000. Finally, Legacy Investment Solutions LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $59,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $83.23 on Wednesday. Public Service Enterprise Group Incorporated has a one year low of $59.29 and a one year 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’s 50 day moving average price is $84.91 and its 200-day moving average price is $86.05. The firm has a market cap of $41.47 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.78 and a beta of 0.64.

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

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 61.92%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group raised their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Scotiabank increased their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated 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 owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

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.