Sage Private Wealth Group LLC Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sage Private Wealth Group LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,384 shares of the utilities provider’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group during the third quarter worth about $35,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $54,000. Finally, Financial Life Planners purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $56,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank boosted their price target 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. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company upped their target price on shares of 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. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.83.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction 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. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,712 shares of company stock valued at $317,644 in the last ninety days. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $83.75 on Wednesday. The firm has a market capitalization of $41.73 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.77 and a beta of 0.64. The firm’s fifty day simple moving average is $85.77 and its 200-day simple moving average is $85.61. Public Service Enterprise Group Incorporated has a twelve month low of $57.40 and a twelve month high of $95.22. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 58.97%.

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.