Triad Wealth Partners LLC Makes New $387,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Triad Wealth Partners LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,580 shares of the utilities provider’s stock, valued at approximately $387,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. increased its holdings in Public Service Enterprise Group by 29.4% during the 4th quarter. Victory Capital Management Inc. now owns 509,946 shares of the utilities provider’s stock worth $43,085,000 after purchasing an additional 115,731 shares during the last quarter. Keybank National Association OH grew its position in shares of Public Service Enterprise Group by 6.6% during the fourth quarter. Keybank National Association OH now owns 7,838 shares of the utilities provider’s stock worth $662,000 after buying an additional 485 shares in the last quarter. AMJ Financial Wealth Management increased its stake in shares of Public Service Enterprise Group by 94.7% in the fourth quarter. AMJ Financial Wealth Management now owns 105,666 shares of the utilities provider’s stock worth $8,928,000 after buying an additional 51,400 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in Public Service Enterprise Group by 195.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 10,290 shares of the utilities provider’s stock valued at $870,000 after acquiring an additional 6,803 shares in the last quarter. Finally, Pinion Investment Advisors LLC boosted its stake in Public Service Enterprise Group by 12.2% during the 4th quarter. Pinion Investment Advisors LLC now owns 2,867 shares of the utilities provider’s stock valued at $242,000 after acquiring an additional 312 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction 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 transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Down 0.4 %

PEG opened at $81.40 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The stock’s 50 day moving average price is $84.62 and its 200 day moving average price is $86.09. The stock has a market cap of $40.56 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.10%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of research reports. Bank of America decreased their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

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.