Peterson Wealth Services Acquires 1,044 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Peterson Wealth Services boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,246 shares of the utilities provider’s stock after purchasing an additional 1,044 shares during the quarter. Peterson Wealth Services’ holdings in Public Service Enterprise Group were worth $697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $35,000. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group in the fourth quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at about $48,000. Stonebridge Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $54,000. Finally, Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $56,000. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Kim C. Hanemann sold 956 shares of the business’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 of the company’s stock, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,712 shares of company stock valued at $317,644. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $83.88 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $57.40 and a 52 week high of $95.22. The company’s 50 day moving average price is $85.93 and its two-hundred day moving average price is $85.54. The stock has a market cap of $41.79 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.77 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.86%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. UBS Group increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their price target on shares of 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. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.83.

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.