Zurcher Kantonalbank Zurich Cantonalbank Buys 10,813 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,891 shares of the utilities provider’s stock after buying an additional 10,813 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Public Service Enterprise Group were worth $9,838,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Modera Wealth Management LLC lifted its stake in Public Service Enterprise Group by 2.6% in the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after acquiring an additional 170 shares during the period. IFP Advisors Inc lifted its holdings in Public Service Enterprise Group by 14.2% during the second quarter. IFP Advisors Inc now owns 1,418 shares of the utilities provider’s stock worth $89,000 after buying an additional 176 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Public Service Enterprise Group by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock worth $3,567,000 after buying an additional 177 shares during the period. Strategic Investment Advisors MI raised its position in shares of Public Service Enterprise Group by 1.0% in the 4th quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock worth $1,071,000 after acquiring an additional 179 shares in the last quarter. Finally, Lido Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 4.1% during the 3rd quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PEG shares. Royal Bank of Canada boosted their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Barclays upped their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Monday, January 22nd. Finally, TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.58.

Public Service Enterprise Group Stock Up 1.0 %

Public Service Enterprise Group stock opened at $65.74 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The stock has a market capitalization of $32.78 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58. The business has a 50 day simple moving average of $63.84 and a 200-day simple moving average of $61.92. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.65%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,948 shares of company stock worth $510,300. Insiders own 0.57% of the company’s stock.

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.