Stonegate Investment Group LLC Purchases Shares of 4,171 Public Service Enterprise Group Incorporated (NYSE:PEG)

Stonegate Investment Group LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,171 shares of the utilities provider’s stock, valued at approximately $278,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Candriam Luxembourg S.C.A. lifted its holdings in Public Service Enterprise Group by 56.8% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 65,259 shares of the utilities provider’s stock valued at $4,355,000 after purchasing an additional 23,628 shares during the last quarter. Covestor Ltd bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $32,000. Good Life Advisors LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $208,000. JPMorgan Chase & Co. increased its position in shares of Public Service Enterprise Group by 8.3% in the fourth quarter. JPMorgan Chase & Co. now owns 8,329,900 shares of the utilities provider’s stock worth $555,855,000 after purchasing an additional 640,728 shares during the last quarter. Finally, BRYN MAWR TRUST Co increased its position in shares of Public Service Enterprise Group by 32.6% in the fourth quarter. BRYN MAWR TRUST Co now owns 6,704 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 1,650 shares during the last quarter. Institutional investors own 70.82% of the company’s stock.

NYSE PEG traded down $0.15 on Wednesday, reaching $68.50. The company’s stock had a trading volume of 33,731 shares, compared to its average volume of 3,276,510. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.25. The firm has a market cap of $34.20 billion, a PE ratio of -26.71, a price-to-earnings-growth ratio of 3.41 and a beta of 0.54. Public Service Enterprise Group Incorporated has a 52 week low of $58.96 and a 52 week high of $75.61. The business has a 50-day moving average price of $69.73 and a 200 day moving average price of $66.55.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.22. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.70 billion. Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The firm’s revenue was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 9th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.15%. The ex-dividend date is Wednesday, June 8th. Public Service Enterprise Group’s dividend payout ratio (DPR) is -84.05%.

PEG has been the subject of several research analyst reports. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Monday, May 9th. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $80.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. Credit Suisse Group started coverage on Public Service Enterprise Group in a research report on Monday, April 25th. They set a “neutral” rating and a $76.00 price objective on the stock. Wells Fargo & Company boosted their price target on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. Finally, TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b” rating in a research report on Monday, April 18th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $73.17.

In other news, COO Ralph A. Larossa sold 4,890 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $64.47, for a total value of $315,258.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $70.44, for a total transaction of $696,158.52. Following the completion of the sale, the chief executive officer now directly owns 474,153 shares in the company, valued at $33,399,337.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,256 shares of company stock worth $1,733,966. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group 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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