Princeton Global Asset Management LLC Acquires 3,250 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Princeton Global Asset Management LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 30.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,967 shares of the utilities provider's stock after acquiring an additional 3,250 shares during the quarter. Princeton Global Asset Management LLC's holdings in Public Service Enterprise Group were worth $1,149,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mather Group LLC. increased its holdings in shares of Public Service Enterprise Group by 4.4% in the fourth quarter. Mather Group LLC. now owns 4,208 shares of the utilities provider's stock valued at $356,000 after purchasing an additional 178 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Public Service Enterprise Group by 203.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,541 shares of the utilities provider's stock worth $8,005,000 after buying an additional 63,430 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Public Service Enterprise Group by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,149,597 shares of the utilities provider's stock valued at $97,129,000 after buying an additional 21,164 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Public Service Enterprise Group in the 4th quarter valued at about $581,000. Finally, Clarity Wealth Advisors LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at about $803,000. Institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on PEG. Barclays decreased their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Bank of America lowered 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 report on Monday, March 3rd. BMO Capital Markets reduced their target price on shares of 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. 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 on the stock in a research note on Wednesday, February 26th. One research 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. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of "Hold" and a consensus price target of $89.63.

Public Service Enterprise Group Stock Up 0.5%

PEG stock opened at $80.19 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $71.89 and a 52 week high of $95.22. The business has a 50-day simple moving average of $80.20 and a 200 day simple moving average of $83.41. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a market cap of $40.01 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48.

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

Public Service Enterprise Group Announces Dividend

The company 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 dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.14%. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Insiders Place Their Bets

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

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.

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.