1,054 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by Murphy & Mullick Capital Management Corp

Murphy & Mullick Capital Management Corp purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,054 shares of the utilities provider’s stock, valued at approximately $89,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after buying an additional 1,719,614 shares during the last quarter. Florida Financial Advisors LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $209,000. Prestige Wealth Management Group LLC grew its stake in shares of Public Service Enterprise Group by 4.7% during the 4th quarter. Prestige Wealth Management Group LLC now owns 16,843 shares of the utilities provider’s stock worth $1,423,000 after purchasing an additional 757 shares during the period. CoreFirst Bank & Trust purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $73,000. Finally, Grantvest Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $215,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on PEG shares. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. Bank of America cut their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.65.

Public Service Enterprise Group Stock Performance

PEG opened at $81.48 on Thursday. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The firm has a market capitalization of $40.62 billion, a PE ratio of 20.02, a PEG 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. The firm’s 50-day moving average price is $83.31 and its 200 day moving average price is $86.09.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.