New York Life Investment Management LLC Purchases 263 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

New York Life Investment Management LLC grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 73,726 shares of the utilities provider’s stock after acquiring an additional 263 shares during the period. New York Life Investment Management LLC’s holdings in Public Service Enterprise Group were worth $6,229,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Checchi Capital Advisers LLC grew its position in Public Service Enterprise Group by 3.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,378 shares of the utilities provider’s stock worth $623,000 after acquiring an additional 261 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Public Service Enterprise Group by 6.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 145,903 shares of the utilities provider’s stock worth $12,327,000 after acquiring an additional 8,751 shares during the last quarter. Amalgamated Bank grew its position in Public Service Enterprise Group by 1.2% during the 4th quarter. Amalgamated Bank now owns 102,144 shares of the utilities provider’s stock worth $8,630,000 after acquiring an additional 1,203 shares during the last quarter. FourThought Financial Partners LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $377,000. Finally, IFP Advisors Inc grew its position in Public Service Enterprise Group by 14.3% during the 4th quarter. IFP Advisors Inc now owns 17,341 shares of the utilities provider’s stock worth $1,465,000 after acquiring an additional 2,171 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent research reports. Guggenheim restated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday. Wells Fargo & Company reduced their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Scotiabank lifted their price objective 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. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction 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 in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Up 0.5 %

PEG opened at $81.09 on Friday. The stock has a market cap of $40.40 billion, a PE ratio of 19.92, a PEG ratio of 2.78 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average of $84.78 and a 200-day moving average of $85.99. Public Service Enterprise Group Incorporated has a 52 week low of $61.48 and a 52 week high of $95.22.

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

Public Service Enterprise Group Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.11%. 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 71.19%.

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.