Jacobi Capital Management LLC Increases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Jacobi Capital Management LLC lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,210 shares of the utilities provider’s stock after purchasing an additional 2,074 shares during the quarter. Jacobi Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,708,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. HM Payson & Co. lifted its stake in shares of Public Service Enterprise Group by 117.3% during the 3rd quarter. HM Payson & Co. now owns 3,477 shares of the utilities provider’s stock worth $310,000 after acquiring an additional 1,877 shares during the last quarter. US Bancorp DE lifted its stake in shares of Public Service Enterprise Group by 2.9% during the 3rd quarter. US Bancorp DE now owns 66,784 shares of the utilities provider’s stock worth $5,958,000 after acquiring an additional 1,873 shares during the last quarter. Cigna Investments Inc. New lifted its stake in shares of Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 124 shares during the last quarter. Focus Financial Network Inc. bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $225,000. Finally, Shepherd Financial Partners LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $212,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.5 %

PEG opened at $81.09 on Friday. The firm has a market cap of $40.40 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 2.78 and a beta of 0.64. 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 $61.48 and a 12 month high of $95.22. The stock has a fifty day moving average price of $84.78 and a 200-day moving average price of $86.04.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.11%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s payout ratio is 71.19%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PEG shares. Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets lifted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by company insiders.

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.