3,215 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by Cornerstone Select Advisors LLC

Cornerstone Select Advisors LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,215 shares of the utilities provider's stock, valued at approximately $272,000.

Several other large investors have also recently made changes to their positions in PEG. Transce3nd LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth about $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $35,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $39,000. Finally, Optiver Holding B.V. bought a new position in shares of Public Service Enterprise Group during the 4th quarter worth $50,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 1.8 %

Shares of NYSE:PEG opened at $79.77 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market capitalization of $39.80 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The firm has a fifty day moving average of $81.09 and a 200 day moving average of $84.73. Public Service Enterprise Group Incorporated has a 52-week low of $71.49 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts' consensus estimates of $1.43. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the business earned $1.31 earnings per share. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.16%. Public Service Enterprise Group's payout ratio is currently 68.85%.

Wall Street Analyst Weigh In

Several research firms have commented on PEG. StockNews.com downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Morgan Stanley lifted their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Guggenheim cut their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Barclays decreased their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Hold" and an average target price of $88.81.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares of the company's stock, valued at $17,523,831.18. This represents a 0.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group 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.

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