LPL Financial LLC Raises Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

LPL Financial LLC increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 661,112 shares of the utilities provider’s stock after acquiring an additional 105,401 shares during the quarter. LPL Financial LLC owned about 0.13% of Public Service Enterprise Group worth $55,857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEG. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $39,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $54,000. Financial Life Planners bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $56,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $56,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

PEG opened at $80.72 on Friday. The stock has a market capitalization of $40.24 billion, a P/E ratio of 19.83, a PEG ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22. The stock has a 50-day moving average price of $83.16 and a 200-day moving average price of $86.05.

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

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.12%. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Wall Street Analyst Weigh In

PEG has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Scotiabank increased 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. Finally, Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Company 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.