Cerity Partners LLC Grows Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Cerity Partners LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 74.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,913 shares of the utilities provider’s stock after acquiring an additional 30,214 shares during the period. Cerity Partners LLC’s holdings in Public Service Enterprise Group were worth $4,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PEG. Modera Wealth Management LLC raised its holdings in shares of Public Service Enterprise Group by 2.6% in the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after acquiring an additional 170 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Public Service Enterprise Group by 14.2% in the second quarter. IFP Advisors Inc now owns 1,418 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 176 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Public Service Enterprise Group by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock valued at $3,567,000 after acquiring an additional 177 shares in the last quarter. Strategic Investment Advisors MI lifted its position in shares of Public Service Enterprise Group by 1.0% in the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after acquiring an additional 179 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Public Service Enterprise Group by 4.1% in the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 183 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $65.03 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $67.51. The firm has a market cap of $32.42 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. The stock has a 50-day simple moving average of $63.55 and a 200-day simple moving average of $61.82.

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. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was down 17.0% compared to the same quarter last year. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.69%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 46.78%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now directly 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. Over the last quarter, insiders sold 7,948 shares of company stock worth $510,300. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research report on Monday, January 22nd. Evercore ISI increased their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays increased their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.58.

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.