Florida Financial Advisors LLC Buys Shares of 2,478 Public Service Enterprise Group Incorporated (NYSE:PEG)

Florida Financial Advisors LLC 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 and Exchange Commission (SEC). The institutional investor bought 2,478 shares of the utilities provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Center for Financial Planning Inc. boosted its stake in shares of Public Service Enterprise Group by 3.0% during the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 120 shares in the last quarter. Spire Wealth Management lifted its position in Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after acquiring an additional 121 shares during the last quarter. First Commonwealth Financial Corp PA boosted its stake in Public Service Enterprise Group by 1.3% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after purchasing an additional 123 shares during the period. United Asset Strategies Inc. increased its position in Public Service Enterprise Group by 2.6% in the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after buying an additional 127 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Public Service Enterprise Group by 0.4% during the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after buying an additional 139 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 2.2 %

Shares of NYSE PEG opened at $81.51 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. The firm has a market capitalization of $40.64 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.78 and a beta of 0.60. The company’s 50 day simple moving average is $83.41 and its 200 day simple moving average is $86.12.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping 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 business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. On average, analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Analyst Ratings Changes

PEG has been the topic of several research reports. Wells Fargo & Company lowered their price target on 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. 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. Morgan Stanley raised their price target 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, March 20th. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

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.