Millstone Evans Group LLC Makes New $56,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Millstone Evans Group LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 667 shares of the utilities provider’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in 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 purchasing an additional 49,285 shares during the period. FMR LLC grew its position in 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 purchasing an additional 877,345 shares during the period. Raymond James Financial Inc. acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $376,209,000. Jennison Associates LLC grew its position in 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 purchasing an additional 1,882,667 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 78,452 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PEG shares. Guggenheim reissued a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Bank of America lowered their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. 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 research note on Wednesday, February 26th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Public Service Enterprise Group Trading Down 0.4 %

PEG opened at $83.00 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company’s 50 day simple moving average is $83.50 and its two-hundred day simple moving average is $86.10. Public Service Enterprise Group Incorporated has a 1-year low of $64.03 and a 1-year high of $95.22. The firm has a market capitalization of $41.38 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

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 business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $0.54 EPS. The business’s revenue was down 5.4% on a year-over-year basis. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS 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. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. 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. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

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.