Vision Financial Markets LLC Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Vision Financial Markets LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, Holdings Channel reports. The firm acquired 1,000 shares of the utilities provider’s stock, valued at approximately $84,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in Public Service Enterprise Group by 47.4% during the third quarter. Farther Finance Advisors LLC now owns 3,681 shares of the utilities provider’s stock worth $328,000 after purchasing an additional 1,184 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Public Service Enterprise Group by 1.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 123,964 shares of the utilities provider’s stock worth $11,059,000 after purchasing an additional 2,128 shares during the last quarter. National Pension Service lifted its stake in Public Service Enterprise Group by 8.6% during the third quarter. National Pension Service now owns 673,031 shares of the utilities provider’s stock worth $60,041,000 after purchasing an additional 53,432 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in Public Service Enterprise Group by 3.7% during the third quarter. Crestwood Advisors Group LLC now owns 3,995 shares of the utilities provider’s stock worth $356,000 after purchasing an additional 142 shares during the last quarter. Finally, Austin Private Wealth LLC purchased a new stake in Public Service Enterprise Group during the third quarter worth approximately $203,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Bank of America decreased their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Wells Fargo & Company cut their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Six 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

Public Service Enterprise Group Trading Up 0.3 %

NYSE:PEG opened at $81.68 on Thursday. The firm has a market cap of $40.70 billion, a P/E ratio of 20.07, a PEG ratio of 2.78 and a beta of 0.64. 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’s 50 day simple moving average is $84.54 and its 200-day simple moving average is $86.06. Public Service Enterprise Group Incorporated has a 12-month low of $63.31 and a 12-month high of $95.22.

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

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed 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. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, March 10th. 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 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.