Cornercap Investment Counsel Inc. Buys 259 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Cornercap Investment Counsel Inc. lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,654 shares of the utilities provider’s stock after buying an additional 259 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Public Service Enterprise Group were worth $1,018,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Public Service Enterprise Group by 47.5% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 12,930 shares of the utilities provider’s stock valued at $791,000 after buying an additional 4,166 shares in the last quarter. River Street Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 3.2% during the 4th quarter. River Street Advisors LLC now owns 13,341 shares of the utilities provider’s stock valued at $816,000 after buying an additional 419 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Public Service Enterprise Group by 8.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,375,387 shares of the utilities provider’s stock valued at $84,105,000 after buying an additional 110,235 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $1,841,000. Finally, Aquila Investment Management LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $1,773,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PEG. Bank of America increased their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Evercore ISI increased their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada increased their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.58.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,948 shares of company stock worth $510,300. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Down 1.0 %

Shares of Public Service Enterprise Group stock opened at $65.20 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The stock has a market capitalization of $32.51 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $67.51. The company has a 50-day simple moving average of $63.33 and a two-hundred day simple moving average of $61.75.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was down 17.0% on a year-over-year basis. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.68%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, March 7th. Public Service Enterprise Group’s payout ratio is 46.78%.

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.