Independent Advisor Alliance Buys 1,245 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Independent Advisor Alliance grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,022 shares of the utilities provider’s stock after acquiring an additional 1,245 shares during the quarter. Independent Advisor Alliance’s holdings in Public Service Enterprise Group were worth $847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PEG. Foundations Investment Advisors LLC grew its position in Public Service Enterprise Group by 27.0% in the 4th 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 in the last quarter. DRW Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $8,244,000. Cullen Investment Group LTD. lifted its holdings in 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 acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division purchased a new position in Public Service Enterprise Group in the third quarter worth $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new position in Public Service Enterprise Group in the 4th quarter valued at $2,565,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 2.3 %

NYSE PEG opened at $81.59 on Friday. The stock’s 50 day moving average is $83.74 and its 200 day moving average is $85.98. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $40.68 billion, a PE ratio of 20.05, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its 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 firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $0.54 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEG. Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets boosted their target price 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. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank increased their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $89.83.

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.