Secure Asset Management LLC Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Secure Asset Management LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,148 shares of the utilities provider’s stock after acquiring an additional 1,801 shares during the period. Secure Asset Management LLC’s holdings in Public Service Enterprise Group were worth $1,787,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on PEG. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays decreased their price target on 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. Finally, UBS Group lifted their price objective on shares of 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. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

Public Service Enterprise Group Stock Up 0.0 %

Shares of NYSE PEG opened at $88.22 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22. The firm has a market capitalization of $43.95 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.82 and a beta of 0.65. The stock has a 50 day moving average price of $87.80 and a 200 day moving average price of $84.75. 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 issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during 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 business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.72%. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Insider Activity

In other news, 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 transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,234 shares of company stock worth $722,037. Corporate insiders own 0.57% of the company’s stock.

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.