Foster & Motley Inc. Invests $249,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Foster & Motley Inc. bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,075 shares of the utilities provider’s stock, valued at approximately $249,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rockline Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $1,185,000. Allspring Global Investments Holdings LLC increased its stake in shares of Public Service Enterprise Group by 4.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after buying an additional 17,838 shares during the period. Jennison Associates LLC increased its stake in shares of Public Service Enterprise Group by 79.9% during the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after buying an additional 397,606 shares during the period. International Assets Investment Management LLC increased its stake in shares of Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after buying an additional 169,425 shares during the period. Finally, PATRIZIA Pty Ltd purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $5,158,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $68.09 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The company has a market cap of $33.95 billion, a PE ratio of 13.27, a P/E/G ratio of 2.94 and a beta of 0.58. The business has a 50-day simple moving average of $64.48 and a two-hundred day simple moving average of $62.22. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $68.31.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company’s quarterly revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock valued at $511,814 over the last quarter. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research note on Monday, January 22nd. Evercore ISI raised their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Finally, Scotiabank cut their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $67.15.

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.