FLC Capital Advisors Takes $208,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

FLC Capital Advisors purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,400 shares of the utilities provider’s stock, valued at approximately $208,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after buying an additional 7,103,657 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Public Service Enterprise Group by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after buying an additional 726,613 shares during the last quarter. State Street Corp raised its stake in shares of Public Service Enterprise Group by 1.1% during the second quarter. State Street Corp now owns 30,420,823 shares of the utilities provider’s stock valued at $1,904,648,000 after purchasing an additional 324,392 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Public Service Enterprise Group by 2.2% during the first quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utilities provider’s stock valued at $638,876,000 after purchasing an additional 221,305 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock valued at $401,173,000 after purchasing an additional 87,974 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEG. JPMorgan Chase & Co. lifted their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. Royal Bank of Canada lifted their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Bank of America lifted their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.38.

Public Service Enterprise Group Trading Up 0.2 %

Shares of PEG traded up $0.13 during trading hours on Thursday, hitting $66.78. 2,971,273 shares of the stock traded hands, compared to its average volume of 2,923,913. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.02. The firm has a market capitalization of $33.30 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 2.86 and a beta of 0.57. The business has a fifty day moving average of $60.99 and a 200-day moving average of $61.12.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was down 17.0% compared to the same quarter last year. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 3.59%. 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 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 value of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 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 value of $308,064.00. Following the completion of the sale, the senior vice president now directly 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 SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction that occurred 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 directly owns 153,721 shares of the company’s stock, valued at $9,684,423. 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 owned by corporate insiders.

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.