Rench Wealth Management Inc. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,681 shares of the utilities provider’s stock after buying an additional 1,382 shares during the period. Rench Wealth Management Inc.’s holdings in Public Service Enterprise Group were worth $1,893,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Bronfman E.L. Rothschild L.P. increased its position in Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock valued at $103,000 after buying an additional 381 shares in the last quarter. Parallel Advisors LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $114,000. Kistler Tiffany Companies LLC increased its position in Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock valued at $119,000 after buying an additional 99 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in Public Service Enterprise Group by 21.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock valued at $134,000 after buying an additional 543 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in Public Service Enterprise Group by 10.4% in the first quarter. CENTRAL TRUST Co now owns 3,323 shares of the utilities provider’s stock valued at $147,000 after buying an additional 314 shares in the last quarter. 66.53% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) traded up 0.29% during mid-day trading on Friday, hitting $44.45. The company’s stock had a trading volume of 5,051,153 shares. The company has a market cap of $22.49 billion, a PE ratio of 42.74 and a beta of 0.39. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $46.81. The stock has a 50-day moving average of $44.02 and a 200-day moving average of $43.99.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. Public Service Enterprise Group had a return on equity of 11.17% and a net margin of 5.86%. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business earned $0.91 earnings per share. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post $2.89 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be given a $0.43 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.87%. Public Service Enterprise Group’s dividend payout ratio is currently 165.39%.

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Several research firms recently commented on PEG. Mizuho began coverage on Public Service Enterprise Group in a research note on Wednesday, April 19th. They issued a “neutral” rating and a $44.50 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. Barclays PLC increased their price objective on Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 25th. Deutsche Bank AG reduced their price objective on Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, April 11th. Finally, Wells Fargo & Company downgraded Public Service Enterprise Group from an “outperform” rating to a “market perform” rating in a research note on Monday, February 27th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Public Service Enterprise Group presently has an average rating of “Hold” and a consensus price target of $46.90.

In other news, insider Derek M. Dirisio sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $43.86, for a total value of $87,720.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Ralph A. Larossa sold 24,021 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $43.55, for a total value of $1,046,114.55. The disclosure for this sale can be found here. Insiders sold 86,021 shares of company stock worth $3,772,635 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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