Modera Wealth Management LLC Buys 270 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Modera Wealth Management LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,383 shares of the utilities provider’s stock after acquiring an additional 270 shares during the quarter. Modera Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $1,046,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PEG. SRS Capital Advisors Inc. increased its stake in Public Service Enterprise Group by 1,381.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 6,637 shares of the utilities provider’s stock valued at $561,000 after acquiring an additional 6,189 shares during the period. Bailard Inc. grew its holdings in shares of Public Service Enterprise Group by 1.8% during the 4th quarter. Bailard Inc. now owns 15,198 shares of the utilities provider’s stock worth $1,284,000 after purchasing an additional 271 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Public Service Enterprise Group by 41.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,232 shares of the utilities provider’s stock valued at $273,000 after purchasing an additional 944 shares during the period. Hickory Point Bank & Trust acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $245,000. Finally, PCG Asset Management LLC bought a new position in Public Service Enterprise Group in the fourth quarter worth $506,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Bank of America lowered their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Wells Fargo & Company cut their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. 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 note on Wednesday, February 26th. Finally, Scotiabank raised their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Five investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.83.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s 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 transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $81.79 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $61.99 and a 52 week high of $95.22. The stock has a market capitalization of $40.75 billion, a PE ratio of 20.10, a PEG ratio of 2.78 and a beta of 0.64. 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’s fifty day moving average is $84.71 and its 200-day moving average is $86.08.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The company’s revenue was down 5.4% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is 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.