Cullen Investment Group LTD. Buys 10,610 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Cullen Investment Group LTD. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 65.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,867 shares of the utilities provider’s stock after buying an additional 10,610 shares during the period. Cullen Investment Group LTD.’s holdings in Public Service Enterprise Group were worth $2,270,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at about $203,000. LPL Financial LLC grew its position in shares of Public Service Enterprise Group by 11.4% in the second quarter. LPL Financial LLC now owns 502,446 shares of the utilities provider’s stock valued at $37,030,000 after purchasing an additional 51,478 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $207,000. Wealthspire Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $298,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Public Service Enterprise Group by 3.8% in the second quarter. Envestnet Asset Management Inc. now owns 993,262 shares of the utilities provider’s stock valued at $73,203,000 after buying an additional 36,589 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock valued at $722,037 over the last ninety days. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research reports. Scotiabank boosted their price target 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. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Barclays decreased their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $84.14 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $41.92 billion, a P/E ratio of 20.67, a P/E/G ratio of 3.18 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The company’s 50-day moving average is $87.49 and its 200 day moving average is $84.13.

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

Public Service Enterprise Group Announces Dividend

The firm also recently declared 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 of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.85%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

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.