Stifel Financial Corp Acquires 2,055 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Stifel Financial Corp raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,711 shares of the utilities provider’s stock after purchasing an additional 2,055 shares during the quarter. Stifel Financial Corp’s holdings in Public Service Enterprise Group were worth $9,155,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PEG. Operose Advisors LLC lifted its holdings in Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after buying an additional 435 shares in the last quarter. Addison Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $31,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $36,000. Anchor Investment Management LLC bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $37,000. Finally, Blue Bell Private Wealth Management LLC increased 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 worth $42,000 after purchasing an additional 195 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

PEG opened at $74.86 on Thursday. The company has a market cap of $37.29 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 3.78 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The firm’s 50-day moving average price is $70.22 and its 200-day moving average price is $64.62. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $75.82.

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 company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The company’s revenue for the quarter was down 26.5% compared to the same quarter last year. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given 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 yield of 3.21%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, 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. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s 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 approximately $1,997,409.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,948 shares of company stock worth $520,814. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on PEG. Evercore ISI increased their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Mizuho lifted their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Finally, Royal Bank of Canada lifted their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.92.

Check Out Our Latest Stock Analysis on PEG

Public Service Enterprise Group 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

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

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