Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by WASHINGTON TRUST Co

WASHINGTON TRUST Co boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 60.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,054 shares of the utilities provider’s stock after purchasing an additional 396 shares during the quarter. WASHINGTON TRUST Co’s holdings in Public Service Enterprise Group were worth $89,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Center for Financial Planning Inc. increased its stake in shares of Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 120 shares during the last quarter. Consolidated Planning Corp increased its stake in shares of Public Service Enterprise Group by 25.9% in the 4th quarter. Consolidated Planning Corp now owns 5,593 shares of the utilities provider’s stock worth $473,000 after acquiring an additional 1,149 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its stake in shares of Public Service Enterprise Group by 3.6% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 22,999 shares of the utilities provider’s stock worth $1,943,000 after acquiring an additional 794 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $875,000. Finally, Van ECK Associates Corp increased its stake in shares of Public Service Enterprise Group by 103.6% in the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock worth $80,313,000 after acquiring an additional 483,795 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $83.85 on Friday. The business has a 50-day moving average of $85.18 and a 200 day moving average of $85.69. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $41.78 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 12 month low of $58.96 and a 12 month high of $95.22.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Activity

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated 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 transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,712 shares of company stock worth $317,644. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PEG shares. Barclays downgraded 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 note on Monday, January 27th. Scotiabank increased their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. BMO Capital Markets increased their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. UBS Group increased their price target 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. Finally, Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five equities 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group 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.