Fox Hill Wealth Management Acquires 702 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Fox Hill Wealth Management raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,297 shares of the utilities provider’s stock after acquiring an additional 702 shares during the period. Fox Hill Wealth Management’s holdings in Public Service Enterprise Group were worth $1,222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PEG. LPL Financial LLC grew its position in Public Service Enterprise Group by 11.4% during the third quarter. LPL Financial LLC now owns 340,715 shares of the utilities provider’s stock valued at $19,390,000 after acquiring an additional 34,939 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Public Service Enterprise Group by 1.7% in the third quarter. Stifel Financial Corp now owns 147,656 shares of the utilities provider’s stock worth $8,403,000 after purchasing an additional 2,481 shares during the last quarter. Operose Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Public Service Enterprise Group by 34.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 11,391 shares of the utilities provider’s stock worth $648,000 after purchasing an additional 2,936 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Public Service Enterprise Group by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 218,546 shares of the utilities provider’s stock worth $12,437,000 after purchasing an additional 1,110 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at approximately $10,500,172.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,948 shares of company stock worth $199,910 in the last three months. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded up $0.58 during mid-day trading on Friday, reaching $73.70. 5,941,282 shares of the company traded hands, compared to its average volume of 2,773,985. The company’s 50 day moving average price is $72.69 and its 200-day moving average price is $65.79. The firm has a market cap of $36.71 billion, a PE ratio of 20.42, a PEG ratio of 3.06 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $75.82.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company’s revenue was down 26.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 earnings per share. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.26%. Public Service Enterprise Group’s payout ratio is 66.48%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Mizuho raised their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Barclays raised their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Royal Bank of Canada lifted their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

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.