Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Mission Wealth Management LP

Mission Wealth Management LP boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 38.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,414 shares of the utilities provider’s stock after acquiring an additional 3,973 shares during the quarter. Mission Wealth Management LP’s holdings in Public Service Enterprise Group were worth $881,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after acquiring an additional 7,103,657 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Public Service Enterprise Group by 118.1% in the third quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock valued at $77,544,000 after buying an additional 738,684 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Public Service Enterprise Group by 562.8% during the third quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock worth $49,504,000 after buying an additional 738,619 shares during the period. JPMorgan Chase & Co. increased its position in Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after acquiring an additional 726,613 shares during the period. Finally, Bank of Nova Scotia raised its stake in Public Service Enterprise Group by 1,350.4% during the 3rd quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock valued at $30,353,000 after acquiring an additional 496,581 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PEG. Barclays boosted their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Scotiabank cut their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, Bank of America upped their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,948 shares of company stock valued at $511,814. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Up 1.1 %

Public Service Enterprise Group stock opened at $69.81 on Thursday. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $70.46. The stock has a market cap of $34.81 billion, a PE ratio of 19.34, a P/E/G ratio of 3.02 and a beta of 0.56. The stock has a 50-day moving average price of $65.17 and a 200 day moving average price of $62.48. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.19% and a net margin of 17.65%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The firm’s revenue was down 26.5% on a year-over-year basis. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.44%. Public Service Enterprise Group’s payout ratio is 66.48%.

Public Service Enterprise Group Company 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.