Millstone Evans Group LLC Buys New Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Millstone Evans Group LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, Holdings Channel.com reports. The fund bought 667 shares of the utilities provider’s stock, valued at approximately $56,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. increased its holdings in Public Service Enterprise Group by 3.2% in the 4th quarter. 1620 Investment Advisors Inc. now owns 6,002 shares of the utilities provider’s stock valued at $507,000 after purchasing an additional 186 shares during the last quarter. iA Global Asset Management Inc. increased its holdings in Public Service Enterprise Group by 19.0% in the 4th quarter. iA Global Asset Management Inc. now owns 18,472 shares of the utilities provider’s stock valued at $1,561,000 after purchasing an additional 2,947 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $2,984,000. Teacher Retirement System of Texas increased its holdings in Public Service Enterprise Group by 101.5% in the 4th quarter. Teacher Retirement System of Texas now owns 29,384 shares of the utilities provider’s stock valued at $2,483,000 after purchasing an additional 14,800 shares during the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $59,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $83.00 on Monday. Public Service Enterprise Group Incorporated has a 1-year low of $64.03 and a 1-year high of $95.22. The stock has a market cap of $41.38 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a fifty day moving average price of $83.50 and a 200 day moving average price of $86.10.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.54 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. Public Service Enterprise Group’s payout ratio is 71.19%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PEG. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by company 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.