Dorsey & Whitney Trust CO LLC Purchases New Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Dorsey & Whitney Trust CO LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 3,669 shares of the utilities provider’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Operose Advisors LLC lifted its stake in Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares in the last quarter. Addison Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $31,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $36,000. Anchor Investment Management LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $37,000. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of 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 hedge funds and other institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group 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 completion of the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group 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 completion of the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group 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 transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,948 shares of company stock valued at $520,814. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PEG. Scotiabank lowered their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Barclays raised their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company raised their price objective 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. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. Finally, Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $68.92.

Get Our Latest Analysis on Public Service Enterprise Group

Public Service Enterprise Group Trading Up 2.5 %

Shares of NYSE PEG opened at $75.76 on Monday. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $75.82. The stock has a market cap of $37.73 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 3.85 and a beta of 0.59. The firm has a 50-day moving average of $69.69 and a 200 day moving average of $64.39. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the business earned $1.39 earnings per share. The company’s revenue was down 26.5% on a year-over-year basis. As a group, sell-side 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 company 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 $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.17%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

About Public Service Enterprise Group

(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.

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

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