Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Americana Partners LLC

Americana Partners LLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,635 shares of the utilities provider’s stock after buying an additional 457 shares during the quarter. Americana Partners LLC’s holdings in Public Service Enterprise Group were worth $392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Spectrum Wealth Advisory Group LLC acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $220,000. Allworth Financial LP raised its stake in Public Service Enterprise Group by 103.3% during the fourth quarter. Allworth Financial LP now owns 10,844 shares of the utilities provider’s stock valued at $957,000 after buying an additional 5,509 shares in the last quarter. Principal Securities Inc. raised its stake in Public Service Enterprise Group by 4.6% during the fourth quarter. Principal Securities Inc. now owns 6,021 shares of the utilities provider’s stock valued at $509,000 after buying an additional 263 shares in the last quarter. WASHINGTON TRUST Co raised its stake in Public Service Enterprise Group by 60.2% during the fourth quarter. WASHINGTON TRUST Co now owns 1,054 shares of the utilities provider’s stock valued at $89,000 after buying an additional 396 shares in the last quarter. Finally, Center for Financial Planning Inc. raised its stake in Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank upped their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $84.83 on Wednesday. The firm has a market capitalization of $42.26 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 12-month low of $59.29 and a 12-month high of $95.22. The business has a 50 day simple moving average of $85.10 and a 200 day simple moving average of $85.81.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.97%. This is an increase 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 is 61.92%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on 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 directly owns 126,791 shares in the company, 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. 0.57% of the stock is currently owned by 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.