LPL Financial LLC Purchases 105,401 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

LPL Financial LLC grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 661,112 shares of the utilities provider’s stock after acquiring an additional 105,401 shares during the period. LPL Financial LLC’s holdings in Public Service Enterprise Group were worth $55,857,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PEG. Mosley Wealth Management raised its position in Public Service Enterprise Group by 7.2% during the 4th quarter. Mosley Wealth Management now owns 7,727 shares of the utilities provider’s stock valued at $631,000 after purchasing an additional 517 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $328,000. KLP Kapitalforvaltning AS bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $25,052,000. AXQ Capital LP purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $528,000. Finally, Mizuho Securities USA LLC boosted its holdings in Public Service Enterprise Group by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 47,220 shares of the utilities provider’s stock valued at $3,990,000 after acquiring an additional 14,917 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEG has been the subject of several research reports. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Morgan Stanley lifted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group Trading Down 1.0 %

Shares of NYSE PEG opened at $80.72 on Friday. The company has a market cap of $40.24 billion, a PE ratio of 19.83, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm’s 50 day moving average price is $83.16 and its 200-day moving average price is $86.05. Public Service Enterprise Group Incorporated has a 52-week low of $64.03 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.54 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

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 issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.12%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

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.