Prudent Man Investment Management Inc. Purchases Shares of 1,134 Public Service Enterprise Group Incorporated (NYSE:PEG)

Prudent Man Investment Management Inc. acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,134 shares of the utilities provider’s stock, valued at approximately $96,000.

Several other hedge funds also recently modified their holdings of PEG. Foundations Investment Advisors LLC grew its stake in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares in the last quarter. Cullen Investment Group LTD. lifted its stake in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division bought a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $2,860,000. Parsons Capital Management Inc. RI bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $2,565,000. Finally, Czech National Bank lifted its stake in Public Service Enterprise Group by 6.4% in the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock valued at $9,127,000 after purchasing an additional 6,545 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $81.57 on Monday. The company has a market capitalization of $40.67 billion, a PE ratio of 20.04, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average price of $83.03 and a two-hundred day moving average price of $86.13. Public Service Enterprise Group Incorporated has a 12 month low of $64.03 and a 12 month high of $95.22.

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

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Morgan Stanley lifted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s 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. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Company 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.