Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 53.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,235 shares of the utilities provider's stock after purchasing an additional 4,276 shares during the period. HB Wealth Management LLC's holdings in Public Service Enterprise Group were worth $1,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PEG. Geode Capital Management LLC boosted its position in Public Service Enterprise Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock valued at $1,051,744,000 after buying an additional 49,285 shares during the period. FMR LLC boosted its holdings in shares of Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after purchasing an additional 877,345 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Public Service Enterprise Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider's stock worth $263,315,000 after purchasing an additional 19,650 shares in the last quarter. Raymond James & Associates raised its position in Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock valued at $255,954,000 after purchasing an additional 663,012 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Public Service Enterprise Group by 5.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider's stock worth $235,194,000 after buying an additional 147,903 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PEG has been the topic of several research reports. Guggenheim restated a "buy" rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, Barclays dropped their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.17.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company's stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,234 shares of company stock valued at $722,037. Company insiders own 0.18% of the company's stock.

Public Service Enterprise Group Stock Up 2.6 %

NYSE:PEG traded up $2.33 during mid-day trading on Tuesday, hitting $90.47. 2,395,823 shares of the company's stock traded hands, compared to its average volume of 2,038,777. The company has a fifty day moving average of $87.70 and a 200 day moving average of $84.61. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The company has a market capitalization of $45.07 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.94 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) 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.