Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Segment Wealth Management LLC

Segment Wealth Management LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,897 shares of the utilities provider’s stock after acquiring an additional 190 shares during the quarter. Segment Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $245,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PEG. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the third quarter valued at $48,000. Legacy Investment Solutions LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter worth about $59,000. Kimelman & Baird LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $66,000. Finally, Fortitude Family Office LLC grew its position in shares of Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 611 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $90.47 on Wednesday. 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 stock’s fifty day moving average is $87.70 and its two-hundred day moving average is $84.61. The firm has a market capitalization of $45.07 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.94 and a beta of 0.65. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, research analysts anticipate 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 was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PEG shares. BMO Capital Markets increased their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. UBS Group increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Scotiabank lifted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,234 shares of company stock worth $722,037. Insiders own 0.18% of the company’s stock.

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.