Raab & Moskowitz Asset Management LLC Acquires 794 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Raab & Moskowitz Asset Management LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,999 shares of the utilities provider’s stock after acquiring an additional 794 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Public Service Enterprise Group were worth $1,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. Foundations Investment Advisors LLC lifted its position in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after purchasing an additional 18,627 shares during the last quarter. DRW Securities LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth about $8,244,000. Cullen Investment Group LTD. lifted its holdings in Public Service Enterprise Group by 65.3% during the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after buying an additional 10,610 shares in the last quarter. Arvest Bank Trust Division purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new position in Public Service Enterprise Group in the 4th quarter worth about $2,565,000. 73.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Stock Up 0.1 %

NYSE:PEG opened at $83.82 on Thursday. The company’s 50-day simple moving average is $85.62 and its 200-day simple moving average is $85.66. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.40 and a fifty-two week high of $95.22. The stock has a market capitalization of $41.76 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.01%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at $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 3,712 shares of company stock valued at $317,644. 0.57% of the stock is currently owned by insiders.

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.