HighPoint Advisor Group LLC Has $814,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

HighPoint Advisor Group LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,720 shares of the utilities provider’s stock after purchasing an additional 610 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Public Service Enterprise Group were worth $814,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PEG. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $35,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group in the 4th quarter valued at $39,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth $54,000. Financial Life Planners bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $56,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $56,000. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEG. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Guggenheim restated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Public Service Enterprise Group Stock Up 1.2 %

Public Service Enterprise Group stock opened at $83.26 on Wednesday. The firm has a market capitalization of $41.51 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. The company’s 50 day simple moving average is $82.77 and its 200 day simple moving average is $86.11. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.63 per share. The ex-dividend date was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company 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.