WealthPlan Investment Management LLC Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

WealthPlan Investment Management LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,687 shares of the utilities provider’s stock, valued at approximately $281,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Continental Investors Services Inc. acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $231,000. CVA Family Office LLC raised its holdings in shares of Public Service Enterprise Group by 46.8% in the third quarter. CVA Family Office LLC now owns 800 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 255 shares during the last quarter. IHT Wealth Management LLC raised its holdings in shares of Public Service Enterprise Group by 27.7% in the third quarter. IHT Wealth Management LLC now owns 8,494 shares of the utilities provider’s stock valued at $478,000 after purchasing an additional 1,845 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Public Service Enterprise Group by 34.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 24,828 shares of the utilities provider’s stock valued at $1,397,000 after purchasing an additional 6,401 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $3,373,000. 70.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TheStreet raised shares of Public Service Enterprise Group from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. Mizuho decreased their target price on shares of Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, March 13th. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, February 22nd. StockNews.com assumed coverage on shares of Public Service Enterprise Group in a research note on Thursday. They issued a “hold” rating for the company. Finally, BMO Capital Markets decreased their target price on shares of Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday, March 13th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.20.

Insider Transactions at Public Service Enterprise Group

In other news, COO Eric Carr sold 7,105 shares of Public Service Enterprise Group stock in a transaction on Monday, March 13th. The stock was sold at an average price of $57.63, for a total transaction of $409,461.15. Following the completion of the sale, the chief operating officer now owns 6,482 shares of the company’s stock, valued at $373,557.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Trading Down 1.1 %

PEG stock opened at $58.53 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.64 and a quick ratio of 0.50. The company has a fifty day moving average price of $60.74 and a two-hundred day moving average price of $60.18. Public Service Enterprise Group Incorporated has a one year low of $52.51 and a one year high of $75.61. The stock has a market cap of $29.19 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 9.92 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its earnings results on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, March 9th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.90%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.54. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 110.68%.

About Public Service Enterprise Group

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Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.