RNC Capital Management LLC Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

RNC Capital Management LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,136 shares of the utilities provider’s stock, valued at approximately $209,000.

Several other large investors have also made changes to their positions in the company. Ferguson Wellman Capital Management Inc. increased its position in shares of Public Service Enterprise Group by 1.9% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 8,192 shares of the utilities provider’s stock worth $547,000 after purchasing an additional 150 shares during the last quarter. Intrust Bank NA increased its position in Public Service Enterprise Group by 4.6% during the fourth quarter. Intrust Bank NA now owns 3,602 shares of the utilities provider’s stock worth $240,000 after buying an additional 158 shares during the period. Exchange Traded Concepts LLC increased its position in Public Service Enterprise Group by 1.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,334 shares of the utilities provider’s stock worth $623,000 after buying an additional 166 shares during the period. Capital Asset Advisory Services LLC increased its position in Public Service Enterprise Group by 2.5% during the fourth quarter. Capital Asset Advisory Services LLC now owns 6,757 shares of the utilities provider’s stock worth $451,000 after buying an additional 166 shares during the period. Finally, WINTON GROUP Ltd increased its position in Public Service Enterprise Group by 0.7% during the third quarter. WINTON GROUP Ltd now owns 25,081 shares of the utilities provider’s stock worth $1,527,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 70.69% of the company’s stock.

Shares of Public Service Enterprise Group stock traded up $0.58 during midday trading on Tuesday, hitting $73.01. The company’s stock had a trading volume of 56,776 shares, compared to its average volume of 2,435,787. The firm has a market capitalization of $36.66 billion, a P/E ratio of -56.15, a PEG ratio of 4.95 and a beta of 0.57. Public Service Enterprise Group Incorporated has a 1-year low of $58.96 and a 1-year high of $73.39. The company has a quick ratio of 0.78, a current ratio of 0.88 and a debt-to-equity ratio of 1.05. The stock has a 50-day simple moving average of $67.63 and a 200-day simple moving average of $65.36.

Public Service Enterprise Group (NYSE:PEGGet Rating) last released its quarterly earnings data on Thursday, February 24th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Public Service Enterprise Group had a positive return on equity of 12.22% and a negative net margin of 6.67%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.96%. Public Service Enterprise Group’s payout ratio is -167.44%.

A number of research analysts recently weighed in on PEG shares. Mizuho upped their price objective on Public Service Enterprise Group from $67.00 to $73.00 in a report on Friday, January 7th. Evercore ISI upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $71.00 target price on the stock in a research report on Tuesday, January 25th. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. StockNews.com started coverage on Public Service Enterprise Group in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Public Service Enterprise Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $71.00 to $73.00 in a research report on Friday, January 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $72.36.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 4,890 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $64.47, for a total transaction of $315,258.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $66.15, for a total value of $653,760.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,146 shares of company stock valued at $2,029,395. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Company Profile (Get Rating)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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