Kestra Private Wealth Services LLC Grows Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kestra Private Wealth Services LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,967 shares of the utilities provider’s stock after purchasing an additional 311 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Public Service Enterprise Group were worth $3,292,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY boosted its stake in Public Service Enterprise Group by 2.9% during the 4th quarter. Miller Howard Investments Inc. NY now owns 82,641 shares of the utilities provider’s stock worth $6,982,000 after purchasing an additional 2,309 shares during the last quarter. Entropy Technologies LP acquired a new position in Public Service Enterprise Group during the fourth quarter worth about $2,010,000. Empowered Funds LLC grew its stake in Public Service Enterprise Group by 9.6% during the 4th quarter. Empowered Funds LLC now owns 9,163 shares of the utilities provider’s stock valued at $774,000 after acquiring an additional 801 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Public Service Enterprise Group by 4.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 10,607 shares of the utilities provider’s stock valued at $896,000 after acquiring an additional 418 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in Public Service Enterprise Group by 22.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,360 shares of the utilities provider’s stock worth $622,000 after purchasing an additional 1,334 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PEG shares. UBS Group upped their price target 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. Scotiabank upped their target price 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. BMO Capital Markets raised their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated 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 directly owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,712 shares of company stock worth $317,644 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $83.88 on Tuesday. 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 firm has a market cap of $41.79 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.77 and a beta of 0.64. The firm’s 50 day moving average price is $85.93 and its 200-day moving average price is $85.54. Public Service Enterprise Group Incorporated has a one year low of $57.40 and a one year high of $95.22.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

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.