FLC Capital Advisors Acquires Shares of 3,400 Public Service Enterprise Group Incorporated (NYSE:PEG)

FLC Capital Advisors acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 3,400 shares of the utilities provider’s stock, valued at approximately $208,000.

Other large investors also recently modified their holdings of the company. Union Savings Bank acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth $28,000. ICA Group Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $31,000. Clear Street Markets LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $31,000. Operose Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 435 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $36,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $0.13 during midday trading on Thursday, reaching $66.78. 2,971,273 shares of the company traded hands, compared to its average volume of 2,923,913. The firm has a market cap of $33.30 billion, a PE ratio of 13.03, a PEG ratio of 2.86 and a beta of 0.57. The stock’s 50-day simple moving average is $60.99 and its 200-day simple moving average is $61.12. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $67.02. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be given a $0.60 dividend. The ex-dividend date is Thursday, March 7th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a yield of 3.59%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 46.78%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised 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 report on Friday, December 1st. BMO Capital Markets decreased their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Bank of America boosted their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.38.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s 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 sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 6,574 shares of company stock worth $419,108. 0.57% of the stock is currently owned by insiders.

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.