Public Service Enterprise Group Incorporated (NYSE:PEG) Stake Boosted by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,951 shares of the utilities provider’s stock after purchasing an additional 230 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Public Service Enterprise Group were worth $925,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter worth approximately $8,244,000. Cullen Investment Group LTD. boosted its position in shares of 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 buying an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new position in shares of Public Service Enterprise Group during the third quarter worth approximately $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $2,565,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Up 1.3 %

PEG stock opened at $79.58 on Thursday. The company has a 50 day moving average of $83.94 and a two-hundred day moving average of $85.98. The company has a market cap of $39.68 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12-month low of $63.31 and a 12-month high of $95.22. 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 issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during 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 company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. On average, equities analysts anticipate 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 represents a $2.52 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective 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. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Scotiabank upped their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

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.