Stifel Financial Corp Purchases 12,817 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Stifel Financial Corp lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,628 shares of the utilities provider's stock after acquiring an additional 12,817 shares during the period. Stifel Financial Corp's holdings in Public Service Enterprise Group were worth $14,163,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Public Service Enterprise Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock worth $5,134,882,000 after purchasing an additional 492,517 shares in the last quarter. Geode Capital Management LLC raised its position in Public Service Enterprise Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock worth $1,027,725,000 after buying an additional 365,666 shares during the last quarter. Invesco Ltd. lifted its stake in Public Service Enterprise Group by 10.2% during the 4th 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 during the period. Norges Bank bought a new position in Public Service Enterprise Group during the 4th quarter valued at about $445,005,000. Finally, Capital Research Global Investors boosted its holdings in shares of Public Service Enterprise Group by 0.3% during the 4th quarter. Capital Research Global Investors now owns 4,756,965 shares of the utilities provider's stock valued at $401,916,000 after acquiring an additional 15,332 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of research analyst reports. 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 objective on the stock. in a research report on Wednesday, March 19th. StockNews.com downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday. 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 report on Thursday, April 10th. Morgan Stanley increased their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Finally, Barclays cut their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $88.81.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG traded up $0.83 on Friday, reaching $79.49. 573,198 shares of the stock were exchanged, compared to its average volume of 2,711,151. The firm has a market capitalization of $39.63 billion, a PE ratio of 19.53, a PEG ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a one year low of $69.47 and a one year high of $95.22. The company's 50-day simple moving average is $81.27 and its two-hundred day simple moving average is $84.97. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the company earned $1.31 EPS. Public Service Enterprise Group's revenue for the quarter was up 16.7% on a year-over-year basis. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced 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 3.17%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

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.