Independent Advisor Alliance Purchases 1,245 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Independent Advisor Alliance grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,022 shares of the utilities provider’s stock after acquiring an additional 1,245 shares during the period. Independent Advisor Alliance’s holdings in Public Service Enterprise Group were worth $847,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter worth $35,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $39,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at $54,000. Financial Life Planners bought a new position in Public Service Enterprise Group in the fourth quarter valued at about $56,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $59,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PEG shares. Guggenheim reiterated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, BMO Capital Markets increased their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.83.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $81.59 on Friday. The firm has a market cap of $40.68 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $63.31 and a 52-week high of $95.22. 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 business’s 50 day moving average price is $83.74 and its two-hundred day moving average price is $85.98.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. Public Service Enterprise Group’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed 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 represents a $2.52 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.