NBC Securities Inc. Purchases 49,167 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

NBC Securities Inc. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 102,431.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,215 shares of the utilities provider's stock after buying an additional 49,167 shares during the period. NBC Securities Inc.'s holdings in Public Service Enterprise Group were worth $4,050,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Caprock Group LLC raised its holdings in shares of Public Service Enterprise Group by 8.6% during the 4th quarter. Caprock Group LLC now owns 4,356 shares of the utilities provider's stock valued at $368,000 after purchasing an additional 345 shares in the last quarter. Austin Private Wealth LLC raised its holdings in shares of Public Service Enterprise Group by 18.3% during the 4th quarter. Austin Private Wealth LLC now owns 2,693 shares of the utilities provider's stock valued at $228,000 after purchasing an additional 417 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Public Service Enterprise Group by 7.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,866 shares of the utilities provider's stock valued at $1,256,000 after purchasing an additional 1,010 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after purchasing an additional 121 shares in the last quarter. Finally, Golden State Equity Partners raised its holdings in shares of Public Service Enterprise Group by 20.6% during the 4th quarter. Golden State Equity Partners now owns 8,836 shares of the utilities provider's stock valued at $747,000 after purchasing an additional 1,507 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $0.47 on Thursday, hitting $79.92. 535,276 shares of the company were exchanged, compared to its average volume of 2,778,420. 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 company's 50 day moving average price is $80.31 and its two-hundred day moving average price is $83.55. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22. The firm has a market capitalization of $39.88 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its 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 business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company 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 $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.15%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Bank of America dropped their target price 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. Evercore ISI dropped their target price 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. Finally, Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $89.63.

Insider Transactions at Public Service Enterprise Group

In related 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 sale, 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 filing with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

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.