Applied Finance Capital Management LLC Purchases 19,913 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Applied Finance Capital Management LLC increased its position in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 10.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,427 shares of the utilities provider’s stock after acquiring an additional 19,913 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Public Service Enterprise Group were worth $12,929,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PEG. Operose Advisors LLC boosted its position in shares of Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares during the period. Addison Advisors LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $31,000. CNB Bank purchased a new stake in Public Service Enterprise Group in the third quarter valued at approximately $34,000. Bruce G. Allen Investments LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $36,000. Finally, Anchor Investment Management LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $37,000. 73.34% of the stock is currently owned by institutional investors.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction 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 sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now 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 is accessible through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Insiders have sold a total of 9,322 shares of company stock worth $607,376 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEG. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. BMO Capital Markets lowered 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 research note on Tuesday, February 27th. Royal Bank of Canada raised their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research note on Monday, January 22nd. Finally, TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Get Our Latest Stock Analysis on PEG

Public Service Enterprise Group Trading Up 0.4 %

Shares of NYSE PEG traded up $0.32 during mid-day trading on Friday, hitting $74.54. The stock had a trading volume of 1,906,719 shares, compared to its average volume of 2,989,451. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $75.12. The business has a 50 day moving average price of $67.63 and a two-hundred day moving average price of $63.52. The firm has a market cap of $37.13 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 3.25 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 earnings per share. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Public Service Enterprise Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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