Axxcess Wealth Management LLC Has $630,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Axxcess Wealth Management LLC grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,457 shares of the utilities provider’s stock after purchasing an additional 346 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its holdings in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after purchasing an additional 18,627 shares during the period. DRW Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at about $8,244,000. Cullen Investment Group LTD. increased its position in Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after buying an additional 10,610 shares in the last quarter. Arvest Bank Trust Division acquired a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $2,565,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $83.00 on Friday. 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 firm has a market cap of $41.38 billion, a PE ratio of 20.39, a P/E/G ratio of 2.78 and a beta of 0.60. The business has a 50 day moving average of $83.50 and a 200-day moving average of $86.02. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 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 down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This is a positive change 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 annualized dividend and a yield of 3.04%. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a research report on Wednesday. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Scotiabank boosted 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 report on Thursday, December 12th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.65.

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.