Douglas Lane & Associates LLC Increases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Douglas Lane & Associates LLC boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,468 shares of the utilities provider’s stock after acquiring an additional 144 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Public Service Enterprise Group were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Public Service Enterprise Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock worth $1,051,744,000 after purchasing an additional 49,285 shares in the last quarter. FMR LLC boosted its position in Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after purchasing an additional 877,345 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Public Service Enterprise Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock worth $263,315,000 after buying an additional 19,650 shares during the period. Raymond James & Associates grew its stake in shares of Public Service Enterprise Group by 30.1% in the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after buying an additional 663,012 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Public Service Enterprise Group by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock valued at $235,194,000 after buying an additional 147,903 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.2 %

Shares of NYSE:PEG opened at $85.27 on Thursday. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The company’s fifty day moving average is $87.59 and its two-hundred day moving average is $83.83. 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 has a market capitalization of $42.48 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 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 was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Analysts Set New Price Targets

Several analysts have issued reports on PEG shares. 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. UBS Group lifted their price target on shares of 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. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were 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 of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is owned by insiders.

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.