Prudent Man Investment Management Inc. Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Prudent Man Investment Management Inc. acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,134 shares of the utilities provider’s stock, valued at approximately $96,000.

A number of other institutional investors have also recently made changes to their positions in PEG. Center for Financial Planning Inc. grew its holdings in shares of Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 120 shares in the last quarter. Spire Wealth Management increased its stake in Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after purchasing an additional 121 shares during the period. United Asset Strategies Inc. lifted its holdings in Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after buying an additional 127 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after purchasing an additional 139 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock worth $128,000 after buying an additional 139 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.1 %

Shares of NYSE PEG opened at $81.57 on Monday. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The company has a market capitalization of $40.67 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a 50 day simple moving average of $83.03 and a 200-day simple moving average of $86.13. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion for 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 company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share. On average, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PEG. Bank of America dropped their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. BMO Capital Markets raised their target price 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 reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Morgan Stanley upped their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

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.