Hennion & Walsh Asset Management Inc. Purchases 212 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Hennion & Walsh Asset Management Inc. raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% in the fourth quarter, Holdings Channel reports. The firm owned 42,728 shares of the utilities provider’s stock after acquiring an additional 212 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $3,610,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PEG. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter worth $35,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter worth about $48,000. Legacy Investment Solutions LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth about $59,000. Kimelman & Baird LLC bought a new position in Public Service Enterprise Group during the 2nd quarter valued at about $66,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 611 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 2.5 %

NYSE PEG opened at $88.41 on Friday. 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 quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $44.05 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. The stock’s 50-day moving average price is $87.57 and its 200-day moving average price is $84.23.

Public Service Enterprise Group (NYSE:PEG) 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. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction dated 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. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,234 shares of company stock worth $722,037. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

PEG has been the subject of several research reports. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays decreased their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, UBS Group raised their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $89.17.

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.