Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Harrell Investment Partners LLC

Harrell Investment Partners LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 30,494 shares of the utilities provider’s stock after buying an additional 1,175 shares during the period. Harrell Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $2,576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Heritage Wealth Management Inc. acquired a new position in Public Service Enterprise Group during the second quarter worth about $422,000. DRW Securities LLC acquired a new position in Public Service Enterprise Group during the third quarter worth about $8,244,000. Cullen Investment Group LTD. boosted its position 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 last quarter. Arvest Bank Trust Division acquired a new position in Public Service Enterprise Group during the third quarter worth about $2,860,000. Finally, Cerity Partners LLC boosted its position in Public Service Enterprise Group by 36.1% during the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after acquiring an additional 25,503 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $88.04 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.91 and a fifty-two week high of $95.22. The firm’s 50 day moving average price is $87.80 and its 200 day moving average price is $84.86. The company has a market cap of $43.86 billion, a P/E ratio of 21.63, a PEG ratio of 2.82 and a beta of 0.65. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.73%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,234 shares of company stock valued at $722,037 in the last ninety days. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PEG shares. Barclays reduced their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. UBS Group lifted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $89.17.

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.