NorthRock Partners LLC Takes $227,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

NorthRock Partners LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,683 shares of the utilities provider’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEG. Nuveen Asset Management LLC increased its stake in Public Service Enterprise Group by 5.5% during the 4th quarter. Nuveen Asset Management LLC now owns 1,406,809 shares of the utilities provider’s stock valued at $118,861,000 after purchasing an additional 73,742 shares in the last quarter. OMERS ADMINISTRATION Corp raised its holdings in Public Service Enterprise Group by 20.3% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 20,774 shares of the utilities provider’s stock worth $1,755,000 after acquiring an additional 3,504 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Public Service Enterprise Group by 37.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,350 shares of the utilities provider’s stock valued at $5,352,000 after acquiring an additional 17,388 shares in the last quarter. Lionshead Wealth Management LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $4,450,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Public Service Enterprise Group by 13.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 430,164 shares of the utilities provider’s stock worth $36,345,000 after purchasing an additional 49,332 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PEG shares. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Evercore ISI decreased their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Barclays lowered their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Guggenheim cut their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $88.81.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $79.33 on Monday. The company has a market capitalization of $39.58 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $71.89 and a 1-year high of $95.22. The firm’s 50 day simple moving average is $80.87 and its two-hundred day simple moving average is $84.08. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm earned $1.31 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 68.85%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Company 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.