Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Rockline Wealth Management LLC

Rockline Wealth Management LLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,050 shares of the utilities provider’s stock after buying an additional 2,139 shares during the period. Rockline Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $2,201,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. abrdn plc raised its position in shares of Public Service Enterprise Group by 0.6% during the 4th quarter. abrdn plc now owns 1,803,046 shares of the utilities provider’s stock worth $151,546,000 after purchasing an additional 10,860 shares during the period. Financial Life Planners acquired a new stake in Public Service Enterprise Group in the fourth quarter worth $56,000. Jennison Associates LLC lifted its stake in Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after buying an additional 1,882,667 shares during the last quarter. Abner Herrman & Brock LLC boosted its holdings in shares of Public Service Enterprise Group by 1.0% during the fourth quarter. Abner Herrman & Brock LLC now owns 16,816 shares of the utilities provider’s stock valued at $1,421,000 after acquiring an additional 166 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Public Service Enterprise Group by 25.5% during the fourth quarter. CENTRAL TRUST Co now owns 3,714 shares of the utilities provider’s stock worth $314,000 after acquiring an additional 755 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $83.50 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $57.24 and a 52 week high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average price is $86.97 and its two-hundred day moving average price is $85.24. The stock has a market cap of $41.60 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business 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 business’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 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of 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. Evercore ISI lifted their price target 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 boosted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, 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 research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock worth $722,037 in the last three months. 0.18% of the stock is currently owned by insiders.

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.