Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Lifted by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 87,621 shares of the utilities provider’s stock after buying an additional 18,627 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $7,403,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $35,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $48,000. Legacy Investment Solutions LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $59,000. Kimelman & Baird LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $66,000. Finally, Fortitude Family Office LLC raised its position in shares of Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after buying an additional 611 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on PEG shares. Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $88.00 to $84.00 in a research report on Monday. UBS Group boosted 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. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $83.33 on Monday. The firm’s 50 day simple moving average is $87.80 and its 200-day simple moving average is $84.99. The company has a market cap of $41.52 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.82 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 Incorporated has a fifty-two week low of $57.24 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Transactions at Public Service Enterprise Group

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

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.