Bay Colony Advisory Group Inc d b a Bay Colony Advisors Boosts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 47.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,930 shares of the utilities provider’s stock after acquiring an additional 4,166 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Public Service Enterprise Group were worth $791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Modera Wealth Management LLC lifted its position in Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock valued at $378,000 after acquiring an additional 170 shares during the last quarter. IFP Advisors Inc lifted its position in Public Service Enterprise Group by 14.2% during the second quarter. IFP Advisors Inc now owns 1,418 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 176 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Public Service Enterprise Group by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock valued at $3,567,000 after acquiring an additional 177 shares during the last quarter. Strategic Investment Advisors MI lifted its position in Public Service Enterprise Group by 1.0% during the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after acquiring an additional 179 shares during the last quarter. Finally, Lido Advisors LLC lifted its position in Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.9 %

NYSE:PEG opened at $65.87 on Monday. The firm has a market capitalization of $32.84 billion, a P/E ratio of 12.84, a PEG ratio of 2.88 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51. The company’s fifty day moving average price is $63.19 and its 200-day moving average price is $61.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The company 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 firm’s revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.64%. The ex-dividend date was Thursday, March 7th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 46.78%.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’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 sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,948 shares of company stock worth $510,300. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on PEG shares. Evercore ISI raised their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Barclays raised their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada raised their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.58.

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.