Crux Wealth Advisors Invests $424,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Crux Wealth Advisors acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,019 shares of the utilities provider's stock, valued at approximately $424,000.

A number of other hedge funds also recently bought and sold shares of the company. EP Wealth Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 6.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 3,482 shares of the utilities provider's stock worth $311,000 after purchasing an additional 226 shares during the period. M&T Bank Corp increased its holdings in Public Service Enterprise Group by 2.9% during the third quarter. M&T Bank Corp now owns 37,670 shares of the utilities provider's stock valued at $3,360,000 after buying an additional 1,044 shares during the last quarter. Coldstream Capital Management Inc. raised its position in Public Service Enterprise Group by 6.6% in the third quarter. Coldstream Capital Management Inc. now owns 9,746 shares of the utilities provider's stock worth $867,000 after acquiring an additional 602 shares during the period. Pine Valley Investments Ltd Liability Co raised its position in Public Service Enterprise Group by 8.5% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 8,527 shares of the utilities provider's stock worth $761,000 after acquiring an additional 670 shares during the period. Finally, World Investment Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $4,403,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

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Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

PEG has been the subject of several analyst reports. Morgan Stanley upped their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. StockNews.com raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Wednesday. Wells Fargo & Company cut their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH cut shares of 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 note on Wednesday, March 19th. Finally, Bank of America dropped their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.35.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded down $0.46 during midday trading on Wednesday, reaching $83.07. 1,989,616 shares of the stock traded hands, compared to its average volume of 2,720,563. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12 month low of $64.03 and a 12 month high of $95.22. The stock's fifty day moving average is $81.92 and its 200-day moving average is $85.66. The stock has a market cap of $41.42 billion, a P/E ratio of 20.41, a PEG ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) 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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company earned $0.54 EPS. The company's quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Public Service Enterprise Group Company 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.