Florida Financial Advisors LLC Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Florida Financial Advisors LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, Holdings Channel.com reports. The firm bought 2,478 shares of the utilities provider’s stock, valued at approximately $209,000.

Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its position in shares of Public Service Enterprise Group by 16.2% in the third quarter. Advisors Asset Management Inc. now owns 10,433 shares of the utilities provider’s stock valued at $931,000 after purchasing an additional 1,453 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Public Service Enterprise Group by 7.1% in the third quarter. Great Valley Advisor Group Inc. now owns 11,166 shares of the utilities provider’s stock valued at $997,000 after buying an additional 736 shares during the period. Cerity Partners LLC grew its position in Public Service Enterprise Group by 36.1% during the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after buying an additional 25,503 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Public Service Enterprise Group by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 60,864 shares of the utilities provider’s stock valued at $5,430,000 after acquiring an additional 6,651 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Public Service Enterprise Group by 4.0% during the 3rd quarter. Fisher Asset Management LLC now owns 7,342 shares of the utilities provider’s stock worth $655,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $81.51 on Wednesday. The company has a market cap of $40.64 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 Incorporated has a 52 week low of $64.03 and a 52 week high of $95.22. The business has a 50 day moving average price of $83.41 and a 200-day moving average price of $86.12.

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

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’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 value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on PEG shares. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Scotiabank increased their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, Wells Fargo & Company dropped their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

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.