Glenview Trust co Purchases 1,274 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Glenview Trust co lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 209,644 shares of the utilities provider’s stock after purchasing an additional 1,274 shares during the quarter. Glenview Trust co’s holdings in Public Service Enterprise Group were worth $17,713,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth $35,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $39,000. Stonebridge Financial Group LLC purchased a new position in Public Service Enterprise Group in the fourth quarter worth about $54,000. Financial Life Planners bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $56,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $57,000. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Up 2.3 %

Shares of NYSE PEG opened at $81.59 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22. The firm has a market cap of $40.68 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The business has a fifty day simple moving average of $83.74 and a two-hundred day simple moving average of $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.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. Public Service Enterprise Group’s payout ratio is 71.19%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PEG. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday. Guggenheim restated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets upped 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 report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.83.

About Public Service Enterprise Group

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.