Hilton Head Capital Partners LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,464 shares of the utilities provider’s stock, valued at approximately $599,000.
Several other large investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC grew its stake in Public Service Enterprise Group by 5.5% during the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock worth $191,000 after buying an additional 121 shares during the last quarter. Colonial Trust Co SC grew its stake in shares of Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 121 shares during the last quarter. JPL Wealth Management LLC grew its stake in shares of Public Service Enterprise Group by 0.4% during the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after purchasing an additional 122 shares during the last quarter. Strategic Investment Advisors MI grew its stake in shares of Public Service Enterprise Group by 0.8% during the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after purchasing an additional 127 shares during the last quarter. Finally, Simplicity Wealth LLC grew its stake in shares of Public Service Enterprise Group by 3.3% during the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 129 shares during the last quarter. 73.34% of the stock is owned by institutional investors.
Public Service Enterprise Group Trading Down 0.0%
Shares of NYSE PEG opened at $79.48 on Monday. The company’s 50 day simple moving average is $79.80 and its 200 day simple moving average is $80.96. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. The firm has a market capitalization of $39.61 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.99 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.
Public Service Enterprise Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.
Analyst Ratings Changes
Several research firms have recently commented on PEG. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target on the stock in a research note on Thursday, March 5th. Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Barclays increased their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.19.
Check Out Our Latest Analysis on Public Service Enterprise Group
Insiders Place Their Bets
In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,249 shares of company stock valued at $498,795 in the last quarter. Corporate insiders own 0.19% of the company’s stock.
Public Service Enterprise Group Profile
Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.
The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.
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