Lido Advisors LLC Buys 378 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Lido Advisors LLC boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,791 shares of the utilities provider’s stock after buying an additional 378 shares during the quarter. Lido Advisors LLC’s holdings in Public Service Enterprise Group were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PEG. Foundations Investment Advisors LLC grew its position in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after acquiring an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. grew its holdings in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after purchasing an additional 10,610 shares during the last quarter. Parsons Capital Management Inc. RI purchased a new position in Public Service Enterprise Group in the 4th quarter worth about $2,565,000. Czech National Bank lifted its holdings in Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock valued at $9,127,000 after buying an additional 6,545 shares in the last quarter. Finally, Avanza Fonder AB bought a new position in Public Service Enterprise Group in the 4th quarter worth about $4,736,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of several recent research reports. BMO Capital Markets reduced their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a report on Wednesday, March 19th. Morgan Stanley lifted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Evercore ISI cut their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $88.81.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at approximately $17,523,831.18. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 4,134 shares of company stock valued at $337,941 over the last quarter. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Up 1.1 %

PEG stock opened at $79.52 on Friday. The stock has a market capitalization of $39.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 52 week low of $70.28 and a 52 week high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average of $81.20 and a 200 day moving average of $84.88.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s payout ratio is 71.19%.

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.