Oppenheimer & Co. Inc. Raises Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Oppenheimer & Co. Inc. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 18.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,272 shares of the utilities provider's stock after acquiring an additional 18,503 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Public Service Enterprise Group were worth $9,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transce3nd LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $25,000. REAP Financial Group LLC grew its stake in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $39,000. Finally, Optiver Holding B.V. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the sale, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at $17,523,831.18. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on PEG. Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. Barclays reduced their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a research note on Wednesday, March 19th. Finally, Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $89.54.

Public Service Enterprise Group Price Performance

NYSE PEG traded up $0.68 during trading hours on Friday, reaching $83.71. The company's stock had a trading volume of 2,755,979 shares, compared to its average volume of 2,802,212. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The company's 50-day moving average is $80.33 and its two-hundred day moving average is $82.39. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.82 and a fifty-two week high of $95.22. The stock has a market cap of $41.77 billion, a PE ratio of 22.87, a PEG ratio of 2.97 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's payout ratio is 68.85%.

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.