Ibex Wealth Advisors Invests $885,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ibex Wealth Advisors acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,472 shares of the utilities provider's stock, valued at approximately $885,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp increased its holdings in Public Service Enterprise Group by 1.1% in the 2nd quarter. Mackenzie Financial Corp now owns 51,118 shares of the utilities provider's stock worth $3,767,000 after buying an additional 566 shares during the period. Creative Planning grew its position in shares of Public Service Enterprise Group by 17.5% in the second quarter. Creative Planning now owns 90,985 shares of the utilities provider's stock valued at $6,706,000 after purchasing an additional 13,559 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 22.1% in the second quarter. NewEdge Advisors LLC now owns 27,559 shares of the utilities provider's stock valued at $2,031,000 after purchasing an additional 4,993 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Public Service Enterprise Group by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,682 shares of the utilities provider's stock worth $2,114,000 after acquiring an additional 2,003 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $66,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, January 2nd. The shares were 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 directly owns 144,212 shares of the company's stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company's stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,234 shares of company stock valued at $722,037. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 2.6 %

Shares of PEG traded up $2.12 during trading hours on Thursday, hitting $83.82. 2,923,242 shares of the stock traded hands, compared to its average volume of 2,397,986. The business has a fifty day moving average of $87.32 and a 200-day moving average of $85.04. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $41.76 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 1-year low of $57.24 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its 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 net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.86%. Public Service Enterprise Group's dividend payout ratio is presently 58.97%.

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent research reports. Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $88.00 to $84.00 in a report on Monday. UBS Group increased their target price on 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. Evercore ISI lifted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.83.

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.