Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by RMR Wealth Builders

RMR Wealth Builders boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,980 shares of the utilities provider’s stock after purchasing an additional 356 shares during the period. RMR Wealth Builders’ holdings in Public Service Enterprise Group were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Heritage Wealth Management Inc. purchased a new stake in Public Service Enterprise Group during the second quarter worth $422,000. DRW Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth about $8,244,000. Arvest Bank Trust Division acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $2,860,000. Cerity Partners LLC boosted its holdings in Public Service Enterprise Group by 36.1% in the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after buying an additional 25,503 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $2,965,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $86.28 on Thursday. The firm has a market capitalization of $42.99 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.81 and a beta of 0.65. The firm’s fifty day simple moving average is $87.52 and its 200-day simple moving average is $84.21. 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 Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22.

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 (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 firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal 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. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.78%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEG. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays lowered their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Scotiabank upped their price target 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. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company raised their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of the firm’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 transaction, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock worth $722,037 over the last 90 days. Corporate 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.