My Legacy Advisors LLC Boosts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

My Legacy Advisors LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,403 shares of the utilities provider’s stock after buying an additional 394 shares during the quarter. My Legacy Advisors LLC’s holdings in Public Service Enterprise Group were worth $725,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the third quarter worth about $48,000. Legacy Investment Solutions LLC bought a new position in shares of Public Service Enterprise Group in the third quarter worth approximately $59,000. Kimelman & Baird LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $66,000. Finally, Fortitude Family Office LLC increased its position in shares of Public Service Enterprise Group by 325.0% during the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 611 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the 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 transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,234 shares of company stock valued at $722,037 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several analyst reports. UBS Group upped their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report 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. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Evercore ISI upped their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price target 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. 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.17.

Public Service Enterprise Group Trading Down 0.3 %

NYSE:PEG opened at $88.20 on Friday. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22. The business has a fifty day moving average price of $87.70 and a 200-day moving average price of $84.36. The firm has a market capitalization of $43.94 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. 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 issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.72%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

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.