one8zero8 LLC Acquires New Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

one8zero8 LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,100 shares of the utilities provider's stock, valued at approximately $262,000.

A number of other large investors also recently modified their holdings of the stock. Center for Financial Planning Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock valued at $349,000 after purchasing an additional 120 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after purchasing an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA lifted its holdings in shares of Public Service Enterprise Group by 1.3% in the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider's stock valued at $842,000 after purchasing an additional 123 shares in the last quarter. United Asset Strategies Inc. lifted its holdings in shares of Public Service Enterprise Group by 2.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock valued at $416,000 after purchasing an additional 127 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock valued at $2,990,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEG. Guggenheim restated a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a research report on Wednesday. Bank of America decreased their price target on 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. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Morgan Stanley increased their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $89.65.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on 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 sale, the chief executive officer now owns 144,212 shares of the company's stock, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded up $0.19 during trading hours on Thursday, reaching $83.32. The stock had a trading volume of 3,080,904 shares, compared to its average volume of 2,548,251. 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 50 day simple moving average of $83.57 and a 200 day simple moving average of $86.02. Public Service Enterprise Group Incorporated has a 12-month low of $63.54 and a 12-month high of $95.22. The stock has a market cap of $41.54 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm's quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. Public Service Enterprise Group's payout ratio is 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.