3,823 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by HCR Wealth Advisors

HCR Wealth Advisors acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,823 shares of the utilities provider’s stock, valued at approximately $315,000.

A number of other institutional investors have also recently bought and sold shares of the business. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $25,000. REAP Financial Group LLC lifted its position in Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after buying an additional 162 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $39,000. Finally, Optiver Holding B.V. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $50,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PEG shares. Barclays cut their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Finally, Bank of America decreased their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Hold” and an average price target of $89.54.

Public Service Enterprise Group Trading Up 1.2%

Public Service Enterprise Group stock opened at $81.99 on Thursday. The business has a 50 day moving average price of $80.34 and a two-hundred day moving average price of $82.73. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a 12 month low of $72.82 and a 12 month high of $95.22. The stock has a market cap of $40.92 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 2.90 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts’ consensus estimates of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. Public Service Enterprise Group’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s payout ratio is 68.85%.

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.