Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Americana Partners LLC

Americana Partners LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,635 shares of the utilities provider’s stock after purchasing an additional 457 shares during the quarter. Americana Partners LLC’s holdings in Public Service Enterprise Group were worth $392,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC raised its holdings in Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after purchasing an additional 18,627 shares during the last quarter. DRW Securities LLC purchased a new position in Public Service Enterprise Group during the third quarter worth $8,244,000. Cullen Investment Group LTD. grew its position in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 10,610 shares during the period. Arvest Bank Trust Division purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $2,565,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.4 %

NYSE:PEG opened at $84.83 on Wednesday. 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 Incorporated has a one year low of $59.29 and a one year high of $95.22. The business’s 50-day simple moving average is $85.10 and its 200 day simple moving average is $85.81. The stock has a market cap of $42.26 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 2.97%. Public Service Enterprise Group’s payout ratio is 61.92%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Scotiabank lifted their price objective 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. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.