Harrell Investment Partners LLC Has $2.53 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Harrell Investment Partners LLC grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,710 shares of the utilities provider’s stock after buying an additional 216 shares during the quarter. Harrell Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $2,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PEG. Norges Bank acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $445,005,000. Raymond James Financial Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $376,209,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after purchasing an additional 1,719,614 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Public Service Enterprise Group by 234.1% in the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after purchasing an additional 1,483,662 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Public Service Enterprise Group by 476.9% in the first quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider’s stock worth $75,652,000 after purchasing an additional 759,873 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of research reports. Bank of America cut their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Morgan Stanley cut their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research report on Wednesday, March 19th. Barclays cut their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Guggenheim dropped their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.54.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $81.99 on Thursday. The firm has a market capitalization of $40.92 billion, a PE ratio of 22.40, a PEG ratio of 2.90 and a beta of 0.48. The company’s 50-day moving average is $80.34 and its 200-day moving average is $82.73. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.82 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The company’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s payout ratio is presently 68.85%.

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.