Kathmere Capital Management LLC Acquires New Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kathmere Capital Management LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,539 shares of the utilities provider’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently modified their holdings of PEG. Assenagon Asset Management S.A. boosted its stake in Public Service Enterprise Group by 44.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 159,345 shares of the utilities provider’s stock worth $13,463,000 after purchasing an additional 49,105 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 6.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,248 shares of the utilities provider’s stock worth $359,000 after buying an additional 242 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $854,000. Accurate Wealth Management LLC increased its position in shares of Public Service Enterprise Group by 6.6% during the fourth quarter. Accurate Wealth Management LLC now owns 5,193 shares of the utilities provider’s stock valued at $438,000 after acquiring an additional 322 shares in the last quarter. Finally, Breakwater Capital Group increased its position in shares of Public Service Enterprise Group by 7.6% during the fourth quarter. Breakwater Capital Group now owns 5,752 shares of the utilities provider’s stock valued at $486,000 after acquiring an additional 404 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction 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 trade represents a 18.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,234 shares of company stock worth $722,037. 0.18% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $88.41 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. The stock has a 50-day simple moving average of $87.57 and a two-hundred day simple moving average of $84.23. The firm has a market capitalization of $44.05 billion, a PE ratio of 21.72, a P/E/G ratio of 2.81 and a beta of 0.65. 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 announced its quarterly earnings data 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 company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the company posted $0.85 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Scotiabank increased their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Barclays dropped 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 report on Tuesday, November 5th. Finally, BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Four investment 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.com, the company presently has an average rating of “Moderate Buy” and an average 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.