Single Point Partners LLC Purchases New Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Single Point Partners LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,784 shares of the utilities provider’s stock, valued at approximately $320,000.

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

Public Service Enterprise Group Stock Up 0.3 %

PEG opened at $83.88 on Tuesday. The stock has a market cap of $41.79 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. 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 firm’s fifty day moving average is $85.93 and its 200 day moving average is $85.54. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.40 and a fifty-two week high of $95.22.

Public Service Enterprise Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEG. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company increased 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 note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Insider Buying and Selling

In related news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,712 shares of company stock worth $317,644. 0.57% of the stock is owned by corporate insiders.

About Public Service Enterprise Group

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.