Cwm LLC Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Cwm LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,487 shares of the utilities provider’s stock after acquiring an additional 2,594 shares during the quarter. Cwm LLC’s holdings in Public Service Enterprise Group were worth $886,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Operose Advisors LLC grew its stake 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 buying an additional 435 shares during the period. CNB Bank purchased a new stake in Public Service Enterprise Group during the third quarter worth approximately $34,000. Bruce G. Allen Investments LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $36,000. Anchor Investment Management LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $37,000. Finally, Blue Bell Private Wealth Management LLC grew its stake in Public Service Enterprise Group by 39.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock worth $42,000 after buying an additional 195 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 0.4 %

PEG opened at $67.82 on Monday. The stock has a market capitalization of $33.81 billion, a PE ratio of 13.22, a P/E/G ratio of 2.97 and a beta of 0.58. The firm’s fifty day moving average price is $64.64 and its 200 day moving average price is $62.32. 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 12-month low of $53.71 and a 12-month high of $68.39.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm’s revenue was down 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.54%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,948 shares of company stock valued at $511,814. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Scotiabank decreased their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Morgan Stanley restated an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Royal Bank of Canada upped their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Finally, Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price for the company. in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group 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.