Legacy Financial Advisors Inc. Buys 403 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Legacy Financial Advisors Inc. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,887 shares of the utilities provider’s stock after acquiring an additional 403 shares during the period. Legacy Financial Advisors Inc.’s holdings in Public Service Enterprise Group were worth $849,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Rockline Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $1,185,000. Allspring Global Investments Holdings LLC boosted its position in 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 buying an additional 17,838 shares in the last quarter. Jennison Associates LLC boosted its position in 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 buying an additional 397,606 shares in the last quarter. International Assets Investment Management LLC boosted its position in Public Service Enterprise Group by 5,613.8% in 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 in the last quarter. Finally, PATRIZIA Pty Ltd acquired a new position in Public Service Enterprise Group in the fourth quarter valued at about $5,158,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 0.6 %

NYSE PEG traded up $0.43 during trading hours on Friday, hitting $70.45. The company’s stock had a trading volume of 2,393,470 shares, compared to its average volume of 2,748,077. The stock has a fifty day moving average of $65.56 and a 200 day moving average of $62.60. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $70.54. The firm has a market capitalization of $35.09 billion, a P/E ratio of 19.52, a PEG ratio of 3.06 and a beta of 0.56. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same quarter last year, the business posted $1.39 earnings per share. Equities research analysts forecast 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 business also recently disclosed 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. This represents a $2.40 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Analysts Set New Price Targets

A number of equities analysts have commented on PEG shares. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Bank of America upped their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Scotiabank reduced their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated 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 approximately $1,997,409.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,322 shares of company stock valued at $607,376. Corporate insiders own 0.57% of the company’s stock.

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.