First American Bank Raises Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

First American Bank increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,564 shares of the utilities provider’s stock after buying an additional 225 shares during the period. First American Bank’s holdings in Public Service Enterprise Group were worth $3,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Public Service Enterprise Group by 2.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 78,503 shares of the utilities provider’s stock valued at $7,003,000 after acquiring an additional 1,996 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Public Service Enterprise Group by 5.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 113,029 shares of the utilities provider’s stock worth $9,964,000 after purchasing an additional 5,569 shares during the period. Integrated Advisors Network LLC raised its position in Public Service Enterprise Group by 4.0% during 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 in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth $208,000. Finally, First Trust Direct Indexing L.P. grew its position in shares of Public Service Enterprise Group by 18.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 23,565 shares of the utilities provider’s stock worth $2,102,000 after buying an additional 3,752 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Guggenheim reiterated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday. Scotiabank boosted their price objective on shares of 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. Finally, BMO Capital Markets increased their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday. 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, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $89.50.

Public Service Enterprise Group Stock Down 2.6 %

Shares of PEG stock opened at $80.76 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $61.36 and a fifty-two week high of $95.22. The firm has a market capitalization of $40.24 billion, a PE ratio of 19.84, a P/E/G ratio of 2.78 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock’s 50-day simple moving average is $84.86 and its 200-day simple moving average is $85.99.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. 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. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.12%. 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 is presently 71.19%.

About Public Service Enterprise Group

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.