Obermeyer Wood Investment Counsel Lllp Invests $205,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Obermeyer Wood Investment Counsel Lllp purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,075 shares of the utilities provider’s stock, valued at approximately $205,000.

Other hedge funds have also modified their holdings of the company. Rockline Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth $1,185,000. Allspring Global Investments Holdings LLC increased its position in Public Service Enterprise Group by 4.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after buying an additional 17,838 shares during the last quarter. Jennison Associates LLC increased its position in Public Service Enterprise Group by 79.9% during the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after buying an additional 397,606 shares during the last quarter. TD Asset Management Inc increased its position in Public Service Enterprise Group by 16.6% during the fourth quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock worth $23,047,000 after buying an additional 53,577 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after buying an additional 169,425 shares during the last quarter. 73.34% of the stock is 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 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock traded down $0.25 during trading on Friday, reaching $76.28. 3,037,439 shares of the stock were exchanged, compared to its average volume of 2,698,226. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $77.46. The company has a market capitalization of $37.99 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 3.18 and a beta of 0.59. The stock has a 50 day simple moving average of $73.98 and a 200-day simple moving average of $66.67. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same period last year, the business earned $1.39 earnings per share. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, June 7th. Public Service Enterprise Group’s payout ratio is 66.48%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PEG shares. Evercore ISI increased their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Mizuho increased their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, June 17th. Scotiabank decreased their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

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.