Flagship Wealth Advisors LLC Purchases New Shares in Public Service Enterprise Group Incorporated (NYSE:PEG)

Flagship Wealth Advisors LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,706 shares of the utilities provider’s stock, valued at approximately $144,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. OneDigital Investment Advisors LLC lifted its position in Public Service Enterprise Group by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 19,382 shares of the utilities provider’s stock worth $1,729,000 after purchasing an additional 390 shares during the period. Empowered Funds LLC lifted its position in Public Service Enterprise Group by 7.7% during the third quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider’s stock worth $746,000 after purchasing an additional 597 shares during the period. Mutual of America Capital Management LLC lifted its position in Public Service Enterprise Group by 5.2% during the third quarter. Mutual of America Capital Management LLC now owns 125,618 shares of the utilities provider’s stock worth $11,206,000 after purchasing an additional 6,193 shares during the period. Atlanta Consulting Group Advisors LLC bought a new stake in Public Service Enterprise Group during the third quarter worth about $257,000. Finally, Thrivent Financial for Lutherans lifted its position in Public Service Enterprise Group by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 1,188,556 shares of the utilities provider’s stock worth $106,031,000 after purchasing an additional 6,958 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEG has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Scotiabank upped 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 research report on Thursday, December 12th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Guggenheim reissued a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.83.

Public Service Enterprise Group Stock Up 0.9 %

Shares of NYSE PEG opened at $82.23 on Tuesday. The company has a 50 day simple moving average of $83.67 and a 200 day simple moving average of $86.03. The firm has a market cap of $41.00 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 1 year low of $63.31 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion during 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 firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.54 EPS. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

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.