Choreo LLC Raises Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Choreo LLC boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 71.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,643 shares of the utilities provider’s stock after purchasing an additional 17,352 shares during the quarter. Choreo LLC’s holdings in Public Service Enterprise Group were worth $3,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the 3rd quarter worth about $48,000. Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $56,000. Legacy Investment Solutions LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at about $59,000. Finally, Brown Lisle Cummings Inc. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $57,000. 73.34% of the stock is owned by institutional investors.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares in the company, valued at approximately $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 sold 9,612 shares of company stock valued at $836,549. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $84.09 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a one year low of $57.40 and a one year high of $95.22. The business’s 50 day simple moving average is $86.56 and its two-hundred day simple moving average is $85.37. The stock has a market capitalization of $41.90 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64.

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

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEG. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays lowered 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, January 27th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Finally, UBS Group upped their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Five investment 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. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

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.