Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Fox Hill Wealth Management

Fox Hill Wealth Management raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 19,088 shares of the utilities provider’s stock after acquiring an additional 201 shares during the quarter. Fox Hill Wealth Management’s holdings in Public Service Enterprise Group were worth $1,613,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Center for Financial Planning Inc. boosted its stake in shares of Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 120 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Public Service Enterprise Group by 2.4% during the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after acquiring an additional 121 shares during the last quarter. First Commonwealth Financial Corp PA boosted its stake in shares of Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after acquiring an additional 123 shares during the last quarter. United Asset Strategies Inc. boosted its stake in shares of Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 127 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Public Service Enterprise Group by 0.4% during the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after acquiring an additional 139 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on PEG shares. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Scotiabank increased their target price 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. Guggenheim reiterated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Finally, Bank of America reduced their target price 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.83.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $82.16 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $40.96 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.78 and a beta of 0.60. The stock’s fifty day simple moving average is $83.61 and its 200 day simple moving average is $86.04. Public Service Enterprise Group Incorporated has a 52-week low of $63.54 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.54 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.07%. Public Service Enterprise Group’s payout ratio is currently 71.19%.

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.