Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by First Command Advisory Services Inc.

First Command Advisory Services Inc. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 116.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 765 shares of the utilities provider’s stock after acquiring an additional 412 shares during the period. First Command Advisory Services Inc.’s holdings in Public Service Enterprise Group were worth $65,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Center for Financial Planning Inc. increased its position in shares of Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 120 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA grew its holdings in shares of Public Service Enterprise Group by 1.3% in the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after purchasing an additional 123 shares in the last quarter. Cigna Investments Inc. New grew its holdings in shares of Public Service Enterprise Group by 2.5% in the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 124 shares in the last quarter. Finally, United Asset Strategies Inc. grew its holdings in shares of Public Service Enterprise Group by 2.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 127 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 2.6 %

Shares of NYSE:PEG opened at $80.76 on Friday. The company has a market capitalization of $40.24 billion, a PE ratio of 19.84, a P/E/G ratio of 2.78 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a twelve month low of $61.36 and a twelve month high of $95.22. The firm has a 50 day simple moving average of $84.86 and a 200-day simple moving average of $85.99.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. Public Service Enterprise Group’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm 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. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.12%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEG. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday. Finally, 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 note on Wednesday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s 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 completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is 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.