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

Blue Bell Private Wealth Management LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 39.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 695 shares of the utilities provider’s stock after purchasing an additional 195 shares during the quarter. Blue Bell Private Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $42,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Rockline Wealth Management LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $1,185,000. PATRIZIA Pty Ltd acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $5,158,000. Arvest Investments Inc. acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $2,108,000. Xponance Inc. raised its holdings in Public Service Enterprise Group by 4.6% in the third quarter. Xponance Inc. now owns 64,223 shares of the utilities provider’s stock valued at $3,655,000 after acquiring an additional 2,825 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in Public Service Enterprise Group by 3.4% in the fourth quarter. New York State Teachers Retirement System now owns 542,577 shares of the utilities provider’s stock valued at $33,179,000 after acquiring an additional 18,035 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $66.79 on Tuesday. The firm has a 50-day moving average price of $62.53 and a 200 day moving average price of $61.48. The firm has a market capitalization of $33.30 billion, a PE ratio of 13.02, a P/E/G ratio of 2.91 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. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last announced 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 analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. Public Service Enterprise Group’s revenue was down 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, sell-side analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a dividend of $0.60 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, March 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.59%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,948 shares of company stock worth $510,300. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of a number of research reports. Morgan Stanley reissued an “overweight” rating and set a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Evercore ISI increased their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada increased their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Barclays increased their target price on shares of Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. Finally, BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $67.33.

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.