Choreo LLC Buys 10,616 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Choreo LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 262.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,666 shares of the utilities provider’s stock after acquiring an additional 10,616 shares during the quarter. Choreo LLC’s holdings in Public Service Enterprise Group were worth $897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 13.0% in 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 in the last quarter. Hsbc Holdings PLC raised its holdings in Public Service Enterprise Group by 118.1% during the third quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock valued at $77,544,000 after acquiring an additional 738,684 shares during the period. Assetmark Inc. raised its holdings in Public Service Enterprise Group by 562.8% during the third quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock valued at $49,504,000 after acquiring an additional 738,619 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Public Service Enterprise Group by 2.2% in the third 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. Finally, Bank of Nova Scotia grew its position in shares of Public Service Enterprise Group by 1,350.4% during the third quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock worth $30,353,000 after purchasing an additional 496,581 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 1.1 %

PEG opened at $69.81 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. The stock’s 50 day moving average price is $65.17 and its 200-day moving average price is $62.48. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $70.46. The stock has a market cap of $34.81 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 3.02 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.19%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the company earned $1.39 EPS. The business’s revenue was down 26.5% compared to the same quarter last year. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current 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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PEG shares. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. BMO Capital Markets cut their target price 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 note on Tuesday, February 27th. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Monday, January 22nd. Finally, Bank of America boosted their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.15.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the 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 transaction, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 directly owns 152,347 shares in the company, 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 valued at $511,814. Corporate insiders own 0.57% of the company’s stock.

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.