3,497 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Carret Asset Management LLC

Carret Asset Management LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, Holdings Channel reports. The fund acquired 3,497 shares of the utilities provider’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rockline Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $1,185,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after purchasing an additional 17,838 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Public Service Enterprise Group by 79.9% in the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after purchasing an additional 397,606 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after buying an additional 169,425 shares during the last quarter. Finally, PATRIZIA Pty Ltd bought a new stake in Public Service Enterprise Group during the fourth quarter worth $5,158,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction 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 transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group 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 transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares in the company, valued at $10,111,270.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,948 shares of company stock valued at $511,814. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $0.45 during trading hours on Thursday, reaching $67.68. 564,339 shares of the stock traded hands, compared to its average volume of 2,816,629. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.68. The firm has a market capitalization of $33.74 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 2.91 and a beta of 0.58. 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 company has a 50 day moving average price of $64.31 and a 200 day moving average price of $62.18.

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, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.55%. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Analyst Upgrades and Downgrades

PEG has been the topic of several analyst reports. Evercore ISI boosted 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. Bank of America lifted their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Tuesday, February 27th. Barclays lifted their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Morgan Stanley reissued an “overweight” rating and set a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

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.