My Legacy Advisors LLC Raises Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

My Legacy Advisors LLC boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,403 shares of the utilities provider’s stock after acquiring an additional 394 shares during the period. My Legacy Advisors LLC’s holdings in Public Service Enterprise Group were worth $725,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Public Service Enterprise Group by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock worth $127,809,000 after buying an additional 163,333 shares during the period. Blair William & Co. IL boosted its holdings in shares of Public Service Enterprise Group by 33.8% in the second quarter. Blair William & Co. IL now owns 18,004 shares of the utilities provider’s stock worth $1,327,000 after acquiring an additional 4,546 shares during the period. Seven Eight Capital LP bought a new position in shares of Public Service Enterprise Group in the second quarter worth $214,000. Intech Investment Management LLC increased its position in shares of Public Service Enterprise Group by 8.5% during the second quarter. Intech Investment Management LLC now owns 18,502 shares of the utilities provider’s stock valued at $1,364,000 after buying an additional 1,449 shares during the period. Finally, Brighton Jones LLC lifted its holdings in shares of Public Service Enterprise Group by 1.8% in the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after buying an additional 131 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,234 shares of company stock worth $722,037. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PEG. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays decreased their target price on 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. 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 note on Wednesday, October 30th. Finally, Scotiabank raised their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $88.20 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The company has a market capitalization of $43.94 billion, a P/E ratio of 21.67, a PEG ratio of 2.81 and a beta of 0.65. The stock has a 50 day moving average price of $87.70 and a two-hundred day moving average price of $84.36.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share 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. Shareholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Public Service Enterprise Group Company 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.