Brown Advisory Inc. Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Brown Advisory Inc. raised its position in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,231 shares of the utilities provider’s stock after acquiring an additional 843 shares during the quarter. Brown Advisory Inc.’s holdings in Public Service Enterprise Group were worth $442,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Addison Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $31,000. Operose Advisors LLC increased its position in shares of Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $36,000. Anchor Investment Management LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $37,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 2.0 %

Shares of Public Service Enterprise Group stock opened at $75.04 on Monday. The company has a market cap of $37.38 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 3.82 and a beta of 0.56. The company’s 50 day moving average is $68.66 and its 200 day moving average is $63.95. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $75.17. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same quarter last year, the company earned $1.39 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given 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 yield of 3.20%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Bank of America boosted their price target on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Morgan Stanley restated an “overweight” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Finally, Mizuho upped their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.31.

Get Our Latest Research Report on Public Service Enterprise Group

Insider Activity at Public Service Enterprise Group

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, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on 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 of the company’s stock, valued at $9,684,423. The disclosure for this sale can be found here. Insiders have sold a total of 9,322 shares of company stock worth $607,376 over the last quarter. Company insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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