HighPoint Advisor Group LLC Has $814,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

HighPoint Advisor Group LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,720 shares of the utilities provider’s stock after acquiring an additional 610 shares during the period. HighPoint Advisor Group LLC’s holdings in Public Service Enterprise Group were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $35,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $39,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $54,000. Financial Life Planners acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $56,000. Finally, Millstone Evans Group LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth approximately $56,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Up 1.2 %

Shares of PEG opened at $83.26 on Wednesday. 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 company has a 50-day simple moving average of $82.77 and a 200-day simple moving average of $86.11. Public Service Enterprise Group Incorporated has a 52 week low of $64.03 and a 52 week high of $95.22. The firm has a market capitalization of $41.51 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.78 and a beta of 0.60.

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

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is 71.19%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America reduced their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. BMO Capital Markets upped their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.65.

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.