Greenleaf Trust Increases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Greenleaf Trust grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,139 shares of the utilities provider’s stock after purchasing an additional 749 shares during the quarter. Greenleaf Trust’s holdings in Public Service Enterprise Group were worth $941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at about $48,000. Legacy Investment Solutions LLC purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $59,000. Fortitude Family Office LLC raised its position in shares of Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after buying an additional 611 shares during the period. Finally, Salem Investment Counselors Inc. raised its position in shares of Public Service Enterprise Group by 67.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,119 shares of the utilities provider’s stock valued at $95,000 after buying an additional 451 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 0.1 %

Shares of PEG stock opened at $83.50 on Tuesday. The company has a market capitalization of $41.60 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $86.97 and its two-hundred day moving average is $85.24. Public Service Enterprise Group Incorporated has a twelve month low of $57.24 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the company posted $0.85 EPS. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.87%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,234 shares of company stock worth $722,037 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PEG shares. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Evercore ISI boosted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Finally, Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.83.

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.