Arkadios Wealth Advisors Increases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Arkadios Wealth Advisors grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,584 shares of the utilities provider’s stock after purchasing an additional 192 shares during the period. Arkadios Wealth Advisors’ holdings in Public Service Enterprise Group were worth $472,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PEG. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group during the third quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth about $48,000. Legacy Investment Solutions LLC bought a new position in Public Service Enterprise Group in the 3rd quarter worth about $59,000. Fortitude Family Office LLC grew its position in Public Service Enterprise Group by 325.0% during 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 during the last quarter. Finally, Kimelman & Baird LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $66,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $90.47 on Wednesday. The stock has a market cap of $45.07 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.94 and a beta of 0.65. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock’s fifty day moving average is $87.70 and its 200 day moving average is $84.61. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted 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 the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’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 completion of the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,234 shares of company stock valued at $722,037. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PEG. Barclays cut their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.17.

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.