Global View Capital Management LLC Acquires New Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Global View Capital Management LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,633 shares of the utilities provider’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth $35,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $39,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $54,000. Finally, Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $56,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $78.50 on Tuesday. The business has a 50-day moving average of $84.16 and a 200 day moving average of $86.05. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The stock has a market capitalization of $39.14 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. As a group, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.21%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Analysts Set New Price Targets

PEG has been the subject of a number of recent research reports. BMO Capital Markets raised their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Guggenheim reiterated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by corporate insiders.

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.