Fox Hill Wealth Management Boosts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Fox Hill Wealth Management boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,088 shares of the utilities provider’s stock after buying an additional 201 shares during the quarter. Fox Hill Wealth Management’s holdings in Public Service Enterprise Group were worth $1,613,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Enhancing Capital LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $676,000. Xponance Inc. raised its position in Public Service Enterprise Group by 3.6% during the 4th quarter. Xponance Inc. now owns 78,445 shares of the utilities provider’s stock worth $6,628,000 after buying an additional 2,736 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $2,859,000. Horizon Investments LLC grew its stake in shares of Public Service Enterprise Group by 1.8% during the 4th quarter. Horizon Investments LLC now owns 8,995 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 155 shares during the period. Finally, Mystic Asset Management Inc. grew its stake in shares of Public Service Enterprise Group by 65.8% during the 4th quarter. Mystic Asset Management Inc. now owns 4,144 shares of the utilities provider’s stock worth $350,000 after purchasing an additional 1,644 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

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 firm’s stock in a transaction on 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. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $82.16 on Wednesday. The company’s fifty day moving average price is $83.61 and its 200 day moving average price is $86.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market capitalization of $40.96 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 1 year low of $63.54 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company 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 firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. As a group, equities research analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. 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 presently 71.19%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PEG shares. Bank of America dropped their price objective 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. Guggenheim reaffirmed a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on shares of 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. BMO Capital Markets raised their price objective on shares of 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. Finally, Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.83.

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.