10,351 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,351 shares of the utilities provider’s stock, valued at approximately $875,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Creative Planning grew its holdings in Public Service Enterprise Group by 5.2% during the 3rd quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock valued at $8,537,000 after buying an additional 4,710 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Public Service Enterprise Group by 9.3% during the 3rd quarter. Whittier Trust Co. now owns 4,705 shares of the utilities provider’s stock valued at $420,000 after acquiring an additional 402 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 14.5% in the third quarter. Foundations Investment Advisors LLC now owns 68,994 shares of the utilities provider’s stock valued at $6,155,000 after purchasing an additional 8,745 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Public Service Enterprise Group by 3.0% in the third quarter. Sequoia Financial Advisors LLC now owns 19,846 shares of the utilities provider’s stock worth $1,770,000 after purchasing an additional 575 shares during the last quarter. Finally, Signaturefd LLC increased its position in Public Service Enterprise Group by 3.9% in the third quarter. Signaturefd LLC now owns 7,292 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 273 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group 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 value of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $85.77 on Thursday. Public Service Enterprise Group Incorporated has a 1-year low of $59.29 and a 1-year high of $95.22. 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 has a market capitalization of $42.73 billion, a P/E ratio of 21.07, a PEG ratio of 2.77 and a beta of 0.64. The business has a 50-day moving average price of $85.07 and a 200 day moving average price of $85.85.

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 2.94%. Public Service Enterprise Group’s payout ratio is 58.97%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group boosted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays downgraded 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 research report on Monday, January 27th. Finally, Scotiabank upped their price target on shares of 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. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.