Park Avenue Securities LLC Boosts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Park Avenue Securities LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,020 shares of the utilities provider’s stock after purchasing an additional 1,065 shares during the period. Park Avenue Securities LLC’s holdings in Public Service Enterprise Group were worth $2,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth approximately $48,000. Legacy Investment Solutions LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth approximately $59,000. Kimelman & Baird LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at $66,000. Finally, Fortitude Family Office LLC lifted its holdings in Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 611 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Scotiabank raised their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Barclays dropped their price target 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. Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Public Service Enterprise Group Trading Down 0.3 %

NYSE PEG opened at $88.20 on Friday. 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 $43.94 billion, a P/E ratio of 21.67, a PEG ratio of 2.81 and a beta of 0.65. The firm’s 50-day moving average is $87.65 and its two-hundred day moving average is $84.26. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22.

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

Public Service Enterprise Group Announces Dividend

The company also recently declared 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 2.72%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insider Activity

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,234 shares of company stock valued at $722,037. 0.18% of the stock is currently owned by corporate insiders.

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.