Wealth Enhancement Advisory Services LLC Purchases 4,072 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Wealth Enhancement Advisory Services LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,575 shares of the utilities provider’s stock after buying an additional 4,072 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Public Service Enterprise Group were worth $7,367,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $422,000. DRW Securities LLC acquired a new position in Public Service Enterprise Group in the third quarter worth $8,244,000. Arvest Bank Trust Division bought a new stake in shares of Public Service Enterprise Group during the third quarter worth $2,860,000. Cerity Partners LLC increased its stake in shares of Public Service Enterprise Group by 36.1% in the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock valued at $8,575,000 after buying an additional 25,503 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Public Service Enterprise Group in the third quarter valued at about $2,965,000. 73.34% of the stock is owned by institutional investors.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Down 0.1 %

Shares of NYSE PEG opened at $84.14 on Tuesday. The firm has a 50 day moving average price of $87.49 and a 200 day moving average price of $84.13. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market cap of $41.92 billion, a P/E ratio of 20.67, a P/E/G ratio of 3.18 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 19.48% and a return on equity of 10.70%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PEG shares. Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group increased their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company upped their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

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.