United Capital Financial Advisors LLC Buys 311 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

United Capital Financial Advisors LLC grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,220 shares of the utilities provider’s stock after acquiring an additional 311 shares during the period. United Capital Financial Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,117,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PEG. Norges Bank purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $445,005,000. Raymond James Financial Inc. purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $376,209,000. Jennison Associates LLC boosted its stake in Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after acquiring an additional 1,882,667 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after purchasing an additional 1,719,614 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Public Service Enterprise Group by 234.1% during the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock valued at $178,900,000 after purchasing an additional 1,483,662 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company reduced their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research note on Wednesday, March 19th. Finally, Barclays decreased their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.35.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 0.4 %

Public Service Enterprise Group stock opened at $83.33 on Friday. The business has a 50-day simple moving average of $81.89 and a two-hundred day simple moving average of $85.55. Public Service Enterprise Group Incorporated has a 52-week low of $65.26 and a 52-week high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a market cap of $41.55 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.78 and a beta of 0.52.

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

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.02%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

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.