Golden State Wealth Management LLC Purchases 7,159 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Golden State Wealth Management LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 104.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,040 shares of the utilities provider's stock after acquiring an additional 7,159 shares during the quarter. Golden State Wealth Management LLC's holdings in Public Service Enterprise Group were worth $1,155,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock valued at $5,134,882,000 after purchasing an additional 492,517 shares during the period. Geode Capital Management LLC increased its stake in shares of Public Service Enterprise Group by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after buying an additional 365,666 shares during the period. Invesco Ltd. raised its holdings in shares of Public Service Enterprise Group by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock valued at $551,323,000 after acquiring an additional 604,978 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Public Service Enterprise Group by 6.1% during the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock valued at $490,644,000 after acquiring an additional 335,135 shares in the last quarter. Finally, Norges Bank purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $445,005,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PEG shares. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a research note on Wednesday, March 19th. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Barclays decreased 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 research report on Tuesday, April 8th. Finally, Guggenheim lowered their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of "Hold" and a consensus target price of $89.54.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 0.8%

NYSE:PEG traded up $0.68 during trading hours on Friday, reaching $83.71. 2,755,999 shares of the company traded hands, compared to its average volume of 2,795,983. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. The business's 50-day moving average price is $80.33 and its two-hundred day moving average price is $82.39. Public Service Enterprise Group Incorporated has a 1 year low of $73.00 and a 1 year high of $95.22. The stock has a market capitalization of $41.77 billion, a P/E ratio of 22.87, a P/E/G ratio of 2.98 and a beta of 0.48.

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 earnings per share for the quarter, meeting the consensus estimate of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The company's revenue was up 16.7% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend yield of 3.01%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 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.