Lindbrook Capital LLC Boosts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Lindbrook Capital LLC boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 55.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,659 shares of the utilities provider’s stock after buying an additional 592 shares during the quarter. Lindbrook Capital LLC’s holdings in Public Service Enterprise Group were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PEG. Operose Advisors LLC boosted its position in Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the period. CNB Bank bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at $34,000. Bruce G. Allen Investments LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter worth about $36,000. Anchor Investment Management LLC bought a new position in Public Service Enterprise Group in the 4th quarter worth about $37,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in Public Service Enterprise Group by 39.0% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock valued at $42,000 after buying an additional 195 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock valued at $511,814 over the last ninety days. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Royal Bank of Canada boosted their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Barclays raised their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Scotiabank dropped their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday. Finally, BMO Capital Markets decreased their price objective 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 report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Trading Up 1.1 %

Shares of PEG stock opened at $67.23 on Thursday. The business has a 50-day moving average of $64.31 and a 200 day moving average of $62.18. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51. The stock has a market capitalization of $33.52 billion, a PE ratio of 13.11, a P/E/G ratio of 2.91 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.57%. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

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.