Blue Trust Inc. Has $1.29 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Blue Trust Inc. lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,505 shares of the utilities provider’s stock after acquiring an additional 1,409 shares during the period. Blue Trust Inc.’s holdings in Public Service Enterprise Group were worth $1,294,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $48,000. Legacy Investment Solutions LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $59,000. Fortitude Family Office LLC raised its holdings in Public Service Enterprise Group by 325.0% during the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after buying an additional 611 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new position in Public Service Enterprise Group during the second quarter worth $66,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock worth $722,037 over the last quarter. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PEG has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. UBS Group upped their target price on shares of 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. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Finally, Scotiabank upped their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Price Performance

PEG opened at $81.71 on Wednesday. The firm has a market cap of $40.71 billion, a P/E ratio of 20.08, a PEG ratio of 2.82 and a beta of 0.65. The firm has a 50-day moving average of $87.66 and a 200 day moving average of $85.03. 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 Incorporated has a fifty-two week low of $57.24 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.94%. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

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.