GWN Securities Inc. Invests $432,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

GWN Securities Inc. purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, Holdings Channel reports. The firm purchased 4,905 shares of the utilities provider’s stock, valued at approximately $432,000.

Other hedge funds also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at $39,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at $54,000. Financial Life Planners purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at $56,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction 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 represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $81.59 on Monday. The business has a 50-day moving average price of $83.74 and a 200-day moving average price of $86.02. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22. The firm has a market cap of $40.68 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $0.63 per share. 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. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PEG. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Guggenheim reissued a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $89.83.

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.