Checchi Capital Advisers LLC Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Checchi Capital Advisers LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,378 shares of the utilities provider’s stock after buying an additional 261 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Public Service Enterprise Group were worth $623,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PEG. Ballentine Partners LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $238,000. Wealth Enhancement Advisory Services LLC grew its stake in Public Service Enterprise Group by 2.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 78,503 shares of the utilities provider’s stock valued at $7,003,000 after purchasing an additional 1,996 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Public Service Enterprise Group by 5.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 113,029 shares of the utilities provider’s stock valued at $9,964,000 after purchasing an additional 5,569 shares during the period. Fortitude Family Office LLC grew its stake in Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 611 shares during the period. Finally, Integrated Advisors Network LLC grew its stake in Public Service Enterprise Group by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 7,407 shares of the utilities provider’s stock valued at $661,000 after purchasing an additional 283 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $82.92 on Thursday. The business’s 50-day moving average price is $84.90 and its two-hundred day moving average price is $86.03. Public Service Enterprise Group Incorporated has a twelve month low of $59.67 and a twelve month high of $95.22. The stock has a market cap of $41.31 billion, a P/E ratio of 20.37, a PEG ratio of 2.78 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.04%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on PEG shares. Guggenheim reiterated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday. Wells Fargo & Company cut their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group increased their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Scotiabank increased their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Public Service Enterprise Group Company 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.