Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,171 shares of the utilities provider’s stock after acquiring an additional 337 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Public Service Enterprise Group were worth $267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC increased its holdings in Public Service Enterprise Group by 9.8% in the fourth quarter. Arete Wealth Advisors LLC now owns 7,518 shares of the utilities provider’s stock valued at $634,000 after buying an additional 672 shares during the last quarter. World Investment Advisors increased its holdings in shares of Public Service Enterprise Group by 3.5% in the 4th quarter. World Investment Advisors now owns 51,088 shares of the utilities provider’s stock valued at $4,316,000 after acquiring an additional 1,732 shares during the last quarter. Nicolet Advisory Services LLC increased its holdings in shares of Public Service Enterprise Group by 8.1% in the 4th quarter. Nicolet Advisory Services LLC now owns 2,381 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 179 shares during the last quarter. OneAscent Financial Services LLC raised its position in shares of Public Service Enterprise Group by 11.4% during the 4th quarter. OneAscent Financial Services LLC now owns 3,657 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 374 shares in the last quarter. Finally, Cinctive Capital Management LP purchased a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $27,234,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PEG. Scotiabank raised 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 report on Thursday, December 12th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a research report on Wednesday, March 19th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Guggenheim reaffirmed a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.65.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $77.83 on Monday. The stock has a market capitalization of $38.80 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.78 and a beta of 0.52. 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 Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The company’s fifty day moving average is $82.34 and its two-hundred day moving average is $86.04.

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

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.24%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

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.