Trust Point Inc. Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Trust Point Inc. purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,073 shares of the utilities provider’s stock, valued at approximately $555,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Public Service Enterprise Group by 13.0% during the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after purchasing an additional 7,103,657 shares during the last quarter. JPMorgan Chase & Co. increased its position in Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after acquiring an additional 726,613 shares in the last quarter. State Street Corp raised its stake in shares of Public Service Enterprise Group by 1.1% in the second quarter. State Street Corp now owns 30,420,823 shares of the utilities provider’s stock worth $1,904,648,000 after acquiring an additional 324,392 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Public Service Enterprise Group by 2.2% in the first quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utilities provider’s stock worth $638,876,000 after acquiring an additional 221,305 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock worth $401,173,000 after purchasing an additional 87,974 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. Wells Fargo & Company upped their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Barclays lifted their price objective on Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Evercore ISI upped their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $67.33.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,948 shares of company stock valued at $510,300. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Down 0.8 %

Shares of NYSE PEG opened at $66.11 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $67.51. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 2.92 and a beta of 0.58. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The company’s fifty day moving average is $62.01 and its 200-day moving average is $61.36.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company’s revenue was down 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a dividend of $0.60 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

About Public Service Enterprise Group

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.