Crews Bank & Trust Buys New Shares in Public Service Enterprise Group Incorporated (NYSE:PEG)

Crews Bank & Trust acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, Holdings Channel reports. The fund acquired 9,321 shares of the utilities provider’s stock, valued at approximately $788,000.

Several other institutional investors also recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Legacy Investment Solutions LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $59,000. Fortitude Family Office LLC lifted its stake in shares of Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 611 shares during the period. Finally, GHP Investment Advisors Inc. raised its holdings in Public Service Enterprise Group by 30.2% in the third quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 257 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent analyst reports. Scotiabank lifted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $88.00 to $84.00 in a research report on Monday. Evercore ISI increased their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. UBS Group upped their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,234 shares of company stock worth $722,037. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $82.40 on Thursday. The company’s 50 day moving average is $87.49 and its two-hundred day moving average is $85.07. The firm has a market cap of $41.05 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52-week low of $57.24 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the business earned $0.85 EPS. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

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.