Segment Wealth Management LLC Boosts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Segment Wealth Management LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,897 shares of the utilities provider’s stock after acquiring an additional 190 shares during the quarter. Segment Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blair William & Co. IL increased its stake in Public Service Enterprise Group by 33.8% during the 2nd quarter. Blair William & Co. IL now owns 18,004 shares of the utilities provider’s stock worth $1,327,000 after buying an additional 4,546 shares during the period. Seven Eight Capital LP acquired a new position in shares of Public Service Enterprise Group in the second quarter worth $214,000. Intech Investment Management LLC raised its stake in shares of Public Service Enterprise Group by 8.5% in the second quarter. Intech Investment Management LLC now owns 18,502 shares of the utilities provider’s stock valued at $1,364,000 after acquiring an additional 1,449 shares in the last quarter. Sei Investments Co. boosted its holdings in Public Service Enterprise Group by 26.9% in the second quarter. Sei Investments Co. now owns 308,490 shares of the utilities provider’s stock valued at $22,736,000 after purchasing an additional 65,338 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in Public Service Enterprise Group by 2.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 128,659 shares of the utilities provider’s stock worth $9,482,000 after purchasing an additional 2,510 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $90.47 on Wednesday. The stock has a market cap of $45.07 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.94 and a beta of 0.65. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The stock has a 50 day moving average of $87.70 and a two-hundred day moving average of $84.61. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS 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 firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. Public Service Enterprise Group’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target 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. UBS Group lifted 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. Barclays dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets raised 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 note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Insider Buying and Selling at Public Service Enterprise Group

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

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.