Global View Capital Management LLC Invests $224,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Global View Capital Management LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,633 shares of the utilities provider’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $35,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $39,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $54,000. Finally, Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $56,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.7 %

Shares of PEG stock opened at $78.50 on Tuesday. The business’s 50 day moving average is $84.16 and its two-hundred day moving average is $86.05. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22. The company has a market capitalization of $39.14 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 posted its quarterly earnings results 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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.21%. Public Service Enterprise Group’s payout ratio is 71.19%.

Analysts Set New Price Targets

Several research analysts have commented on PEG shares. Guggenheim reaffirmed a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Scotiabank lifted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, Bank of America cut their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.57% of the company’s stock.

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.