Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 18.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,272 shares of the utilities provider's stock after purchasing an additional 18,503 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Public Service Enterprise Group were worth $9,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Centre Asset Management LLC boosted its stake in Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock valued at $324,000 after acquiring an additional 121 shares in the last quarter. Larson Financial Group LLC raised its stake in Public Service Enterprise Group by 10.1% in the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock valued at $128,000 after buying an additional 139 shares during the last quarter. Apella Capital LLC grew its stake in shares of Public Service Enterprise Group by 2.7% during the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after acquiring an additional 144 shares during the last quarter. Copperwynd Financial LLC increased its holdings in shares of Public Service Enterprise Group by 1.4% during the fourth quarter. Copperwynd Financial LLC now owns 10,714 shares of the utilities provider's stock valued at $905,000 after acquiring an additional 145 shares in the last quarter. Finally, Net Worth Advisory Group raised its position in shares of Public Service Enterprise Group by 5.6% in the 1st quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider's stock valued at $231,000 after purchasing an additional 148 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

NYSE PEG traded down $0.36 during mid-day trading on Wednesday, reaching $82.77. 2,787,860 shares of the stock were exchanged, compared to its average volume of 2,813,873. The company has a market capitalization of $41.30 billion, a P/E ratio of 22.61, a P/E/G ratio of 2.98 and a beta of 0.48. 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 business's 50 day moving average is $80.33 and its 200-day moving average is $82.43. Public Service Enterprise Group Incorporated has a 1 year low of $72.82 and a 1 year high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's payout ratio is currently 68.85%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PEG shares. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Guggenheim cut their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI cut their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. 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 objective for the company. in a research note on Wednesday, March 19th. Finally, Bank of America dropped their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Hold" and an average target price of $89.54.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. This trade 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. Company insiders own 0.19% of the company's stock.

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.