RMR Wealth Builders Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

RMR Wealth Builders increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,980 shares of the utilities provider’s stock after purchasing an additional 356 shares during the period. RMR Wealth Builders’ holdings in Public Service Enterprise Group were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Public Service Enterprise Group by 5.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 82,575 shares of the utilities provider’s stock worth $7,367,000 after purchasing an additional 4,072 shares during the period. Douglas Lane & Associates LLC boosted its holdings in Public Service Enterprise Group by 6.2% during the fourth quarter. Douglas Lane & Associates LLC now owns 2,468 shares of the utilities provider’s stock worth $208,000 after buying an additional 144 shares in the last quarter. Innova Wealth Partners acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at $304,000. Fortem Financial Group LLC increased its holdings in Public Service Enterprise Group by 2.0% in the fourth quarter. Fortem Financial Group LLC now owns 8,392 shares of the utilities provider’s stock valued at $709,000 after buying an additional 164 shares in the last quarter. Finally, Pensionfund Sabic raised its position in shares of Public Service Enterprise Group by 26.3% in the fourth quarter. Pensionfund Sabic now owns 19,200 shares of the utilities provider’s stock worth $1,622,000 after acquiring an additional 4,000 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,234 shares of company stock worth $722,037. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. UBS Group upped their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays lowered their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Public Service Enterprise Group Stock Down 1.2 %

Shares of NYSE PEG traded down $1.00 during midday trading on Friday, hitting $84.28. The company’s stock had a trading volume of 2,524,879 shares, compared to its average volume of 2,029,798. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The business’s fifty day simple moving average is $87.50 and its two-hundred day simple moving average is $83.84. The firm has a market capitalization of $41.99 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. 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 posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 2.85%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

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.