Prestige Wealth Management Group LLC Acquires 757 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Prestige Wealth Management Group LLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,843 shares of the utilities provider’s stock after acquiring an additional 757 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Public Service Enterprise Group were worth $1,423,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PEG. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $39,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $54,000. Financial Life Planners bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $56,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $56,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PEG shares. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Bank of America dropped their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $89.65.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.3 %

Shares of Public Service Enterprise Group stock opened at $83.26 on Tuesday. 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 Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The firm has a market cap of $41.51 billion, a PE ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. The company has a 50 day simple moving average of $83.48 and a two-hundred day simple moving average of $86.11.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. 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%.

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.