Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Glenview Trust co

Glenview Trust co raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 209,644 shares of the utilities provider’s stock after buying an additional 1,274 shares during the period. Glenview Trust co’s holdings in Public Service Enterprise Group were worth $17,713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased 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 valued at $1,051,744,000 after buying an additional 49,285 shares in the last quarter. FMR LLC grew its stake in shares of Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after acquiring an additional 877,345 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $376,209,000. Jennison Associates LLC raised its position in shares of Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after purchasing an additional 1,882,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Public Service Enterprise Group by 2.7% in 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 in the last quarter. Hedge funds and other 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 that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PEG has been the topic of a number of recent analyst reports. Bank of America cut their price target 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. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $89.83.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $81.59 on Friday. 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 stock has a market capitalization of $40.68 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.78 and a beta of 0.60. The firm’s 50 day simple moving average is $83.74 and its 200-day simple moving average is $85.98. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. This is a boost 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 dividend payout ratio is presently 71.19%.

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.