Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Spire Wealth Management

Spire Wealth Management raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,207 shares of the utilities provider’s stock after purchasing an additional 121 shares during the quarter. Spire Wealth Management’s holdings in Public Service Enterprise Group were worth $440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after acquiring an additional 49,285 shares in the last quarter. FMR LLC increased its position in shares of Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Public Service Enterprise Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock valued at $263,315,000 after purchasing an additional 19,650 shares in the last quarter. Raymond James & Associates lifted its position in shares of Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after purchasing an additional 663,012 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Public Service Enterprise Group by 5.9% during the third quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock worth $235,194,000 after purchasing an additional 147,903 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $84.09 on Thursday. Public Service Enterprise Group Incorporated has a one year low of $57.40 and a one year high of $95.22. The stock has a market capitalization of $41.90 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.67 and a beta of 0.64. The company has a 50-day simple moving average of $86.56 and a 200-day simple moving average of $85.37. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

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, beating the consensus estimate 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 business earned $0.85 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current 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 issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. UBS Group boosted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets upped their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Scotiabank raised their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. 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 report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Insider Activity at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group 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 sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % 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. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,612 shares of company stock worth $836,549 in the last three months. Insiders own 0.57% 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.