Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 166,261 shares of the utilities provider’s stock after acquiring an additional 1,426 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Public Service Enterprise Group were worth $11,103,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Rockline Wealth Management LLC purchased a new position in Public Service Enterprise Group during the fourth quarter worth approximately $1,185,000. Allspring Global Investments Holdings LLC raised its stake in shares of Public Service Enterprise Group by 4.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after acquiring an additional 17,838 shares during the period. Jennison Associates LLC raised its stake in shares of Public Service Enterprise Group by 79.9% in the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after acquiring an additional 397,606 shares during the period. International Assets Investment Management LLC raised its stake in shares of Public Service Enterprise Group by 5,613.8% in the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after acquiring an additional 169,425 shares during the period. Finally, PATRIZIA Pty Ltd purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $5,158,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded up $0.43 during midday trading on Friday, hitting $70.45. The company’s stock had a trading volume of 2,393,470 shares, compared to its average volume of 2,748,077. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $70.54. The firm’s fifty day moving average price is $65.56 and its 200-day moving average price is $62.60. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.46 and a current ratio of 0.79. The firm has a market cap of $35.09 billion, a P/E ratio of 19.52, a P/E/G ratio of 3.06 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the firm posted $1.39 earnings per share. The company’s quarterly revenue was down 26.5% on a year-over-year basis. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold a total of 9,322 shares of company stock worth $607,376 in the last ninety days. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of research reports. Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Bank of America lifted their price target 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. Scotiabank dropped their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Evercore ISI lifted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

About Public Service Enterprise Group

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.