Hager Investment Management Services LLC Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hager Investment Management Services LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, Holdings Channel reports. The fund bought 1,123 shares of the utilities provider’s stock, valued at approximately $95,000.

Several other hedge funds also recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Financial Life Planners bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Legacy Investment Solutions LLC bought a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $59,000. Finally, Brown Lisle Cummings Inc. bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $57,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.1 %

Shares of Public Service Enterprise Group stock opened at $83.43 on Wednesday. Public Service Enterprise Group Incorporated has a 52-week low of $57.24 and a 52-week high of $95.22. The firm has a 50-day moving average of $86.78 and a 200-day moving average of $85.31. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market cap of $41.56 billion, a PE ratio of 20.50, a PEG ratio of 2.67 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. 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. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.88%. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Evercore ISI raised their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Scotiabank raised 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 report on Thursday, December 12th. Five equities 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’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,612 shares of company stock valued at $836,549 over the last quarter. 0.18% of the stock is owned by company insiders.

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.