HB Wealth Management LLC Buys 596 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

HB Wealth Management LLC grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,005 shares of the utilities provider’s stock after acquiring an additional 596 shares during the quarter. HB Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PEG. Union Savings Bank bought a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $28,000. Operose Advisors LLC raised its stake in Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 435 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at about $31,000. Clear Street Markets LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at about $31,000. Finally, CNB Bank acquired a new position in Public Service Enterprise Group in the third quarter valued at about $34,000. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the 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 transaction, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was 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 of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,574 shares of company stock worth $419,108. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PEG. Royal Bank of Canada boosted their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. BMO Capital Markets dropped their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Tuesday, February 27th. Bank of America boosted their target price on 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 raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Finally, JPMorgan Chase & Co. boosted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Hold” and a consensus target price of $66.38.

Read Our Latest Stock Report on Public Service Enterprise Group

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $66.78 on Friday. The business’s 50 day simple moving average is $61.14 and its 200 day simple moving average is $61.16. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.02. The stock has a market capitalization of $33.30 billion, a PE ratio of 13.02, a PEG ratio of 2.86 and a beta of 0.57. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm’s revenue was down 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio is presently 46.78%.

Public Service Enterprise Group Profile

(Free Report)

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.

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

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