Premier Path Wealth Partners LLC Grows Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Premier Path Wealth Partners LLC grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,884 shares of the utilities provider’s stock after acquiring an additional 715 shares during the period. Premier Path Wealth Partners LLC’s holdings in Public Service Enterprise Group were worth $1,258,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PEG. Geode Capital Management LLC raised its holdings in shares of Public Service Enterprise Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after acquiring an additional 49,285 shares during the last quarter. FMR LLC raised its stake in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Public Service Enterprise Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock valued at $263,315,000 after purchasing an additional 19,650 shares in the last quarter. Raymond James & Associates boosted its stake in Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after purchasing an additional 663,012 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Public Service Enterprise Group by 5.9% during the third quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock worth $235,194,000 after buying an additional 147,903 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the firm’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 sale, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock worth $722,037 over the last 90 days. 0.18% of the stock is owned by insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $88.20 on Friday. The firm has a 50 day moving average of $87.65 and a two-hundred day moving average of $84.26. The stock has a market capitalization of $43.94 billion, a PE ratio of 21.67, a P/E/G ratio of 2.81 and a beta of 0.65. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued 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 2.72%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PEG. Barclays decreased their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. BMO Capital Markets upped their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, UBS Group lifted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight 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 a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

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.