56,055 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by Avanza Fonder AB

Avanza Fonder AB bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 56,055 shares of the utilities provider’s stock, valued at approximately $4,736,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PEG. Heritage Wealth Management Inc. bought a new position in shares of Public Service Enterprise Group during the second quarter worth about $422,000. DRW Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $8,244,000. Arvest Bank Trust Division acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $2,860,000. Cerity Partners LLC raised its holdings in shares of 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 valued at $8,575,000 after buying an additional 25,503 shares during the last quarter. Finally, Cullen Investment Group LTD. boosted its position in shares of Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after buying an additional 10,610 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 0.3 %

Public Service Enterprise Group stock opened at $88.20 on Friday. The firm has a market cap of $43.94 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The firm’s 50 day moving average price is $87.65 and its two-hundred day moving average price is $84.26. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the firm posted $0.85 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Barclays cut their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Four equities research 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,234 shares of company stock worth $722,037 over the last ninety days. 0.18% of the stock is currently owned by company 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.