Mosley Wealth Management Has $631,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mosley Wealth Management increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,727 shares of the utilities provider’s stock after buying an additional 517 shares during the quarter. Mosley Wealth Management’s holdings in Public Service Enterprise Group were worth $631,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $328,000. KLP Kapitalforvaltning AS acquired a new stake in Public Service Enterprise Group during the fourth quarter worth $25,052,000. AXQ Capital LP bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $528,000. Mizuho Securities USA LLC raised its stake in shares of Public Service Enterprise Group by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 47,220 shares of the utilities provider’s stock valued at $3,990,000 after buying an additional 14,917 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $56,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PEG shares. BMO Capital Markets upped their target price on shares of 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. 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. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Wells Fargo & Company dropped their price objective on 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. Finally, Scotiabank boosted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $89.65.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Price Performance

PEG opened at $83.00 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company’s 50 day simple moving average is $83.50 and its 200-day simple moving average is $86.06. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one year high of $95.22. The stock has a market capitalization of $41.38 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is 71.19%.

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.