Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by River Street Advisors LLC

River Street Advisors LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,341 shares of the utilities provider’s stock after purchasing an additional 419 shares during the quarter. River Street Advisors LLC’s holdings in Public Service Enterprise Group were worth $816,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. increased its position in Public Service Enterprise Group by 8.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,375,387 shares of the utilities provider’s stock worth $84,105,000 after purchasing an additional 110,235 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $1,841,000. Aquila Investment Management LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $1,773,000. Simplicity Solutions LLC increased its position in Public Service Enterprise Group by 0.4% during the 4th quarter. Simplicity Solutions LLC now owns 63,677 shares of the utilities provider’s stock worth $3,894,000 after purchasing an additional 252 shares in the last quarter. Finally, Sutton Place Investors LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $655,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PEG. Bank of America increased their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays raised their price objective on Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Wells Fargo & Company raised their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.33.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the sale, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock valued at $510,300 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 0.9 %

Shares of PEG stock traded down $0.58 during trading hours on Friday, reaching $65.87. 2,016,987 shares of the stock traded hands, compared to its average volume of 2,976,555. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51. The business has a fifty day moving average price of $63.19 and a 200 day moving average price of $61.66. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $32.84 billion, a PE ratio of 12.84, a PEG ratio of 2.88 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.64%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, March 7th. Public Service Enterprise Group’s payout ratio is currently 46.78%.

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.