Oak Thistle LLC Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Oak Thistle LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,106 shares of the utilities provider’s stock, valued at approximately $854,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEG. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group during the third quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $48,000. Legacy Investment Solutions LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $59,000. Kimelman & Baird LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth $66,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Public Service Enterprise Group by 325.0% in the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 611 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group 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 value of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the 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 sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,234 shares of company stock worth $722,037. 0.18% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $86.28 on Thursday. The stock has a market capitalization of $42.99 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. The company has a fifty day moving average of $87.52 and a 200-day moving average of $84.21. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22. 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 (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.85 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.78%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 58.97%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PEG shares. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Barclays decreased their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

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.