HighTower Advisors LLC Has $14.10 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

HighTower Advisors LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,827 shares of the utilities provider’s stock after acquiring an additional 5,032 shares during the period. HighTower Advisors LLC’s holdings in Public Service Enterprise Group were worth $14,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 49,285 shares in the last quarter. FMR LLC raised its holdings in shares of 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 buying an additional 877,345 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth $376,209,000. Jennison Associates LLC raised its holdings in shares of Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after buying an additional 1,882,667 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Public Service Enterprise Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider’s stock worth $256,012,000 after buying an additional 78,452 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research analyst reports. Guggenheim reissued a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets upped their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Scotiabank upped their target price 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. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, Bank of America lowered their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

Public Service Enterprise Group Trading Up 2.3 %

NYSE PEG opened at $81.59 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The business’s 50-day moving average price is $83.74 and its two-hundred day moving average price is $86.02. The firm has a market capitalization of $40.68 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This is a positive change 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 3.09%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by corporate insiders.

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.