Horizon Investments LLC Acquires 155 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Horizon Investments LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,995 shares of the utilities provider’s stock after acquiring an additional 155 shares during the period. Horizon Investments LLC’s holdings in Public Service Enterprise Group were worth $760,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $35,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $39,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth $54,000. Financial Life Planners acquired a new position in Public Service Enterprise Group in the 4th quarter valued at $56,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at $59,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $83.21 on Thursday. The stock has a 50-day moving average price of $83.57 and a two-hundred day moving average price 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 company has a market capitalization of $41.48 billion, a PE ratio of 20.44, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $0.54 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PEG shares. Bank of America decreased their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.27.

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.