Centennial Wealth Advisory LLC Purchases 406 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Centennial Wealth Advisory LLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,773 shares of the utilities provider’s stock after acquiring an additional 406 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Public Service Enterprise Group were worth $572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Choreo LLC raised its position in shares of Public Service Enterprise Group by 71.4% during the fourth quarter. Choreo LLC now owns 41,643 shares of the utilities provider’s stock worth $3,535,000 after acquiring an additional 17,352 shares during the last quarter. Confluence Wealth Services Inc. increased its holdings in Public Service Enterprise Group by 38.9% in the fourth quarter. Confluence Wealth Services Inc. now owns 20,433 shares of the utilities provider’s stock valued at $1,802,000 after purchasing an additional 5,722 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Public Service Enterprise Group by 203.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,541 shares of the utilities provider’s stock valued at $8,005,000 after purchasing an additional 63,430 shares during the last quarter. Spirit of America Management Corp NY increased its holdings in Public Service Enterprise Group by 4.8% in the fourth quarter. Spirit of America Management Corp NY now owns 10,850 shares of the utilities provider’s stock valued at $917,000 after purchasing an additional 500 shares during the last quarter. Finally, Hager Investment Management Services LLC bought a new stake in Public Service Enterprise Group in the fourth quarter valued at about $95,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.8 %

PEG stock opened at $84.09 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $41.90 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.67 and a beta of 0.64. The business has a 50-day moving average of $86.56 and a 200-day moving average of $85.37. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.40 and a fifty-two week high of $95.22.

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

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analyst Ratings Changes

A number of research firms recently commented on PEG. BMO Capital Markets upped their price objective on 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. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Wells Fargo & Company increased their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of the 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 completion of the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,612 shares of company stock valued at $836,549 over the last three months. Company insiders own 0.18% of the company’s stock.

About Public Service Enterprise Group

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.