Hennion & Walsh Asset Management Inc. Purchases 212 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Hennion & Walsh Asset Management Inc. boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,728 shares of the utilities provider’s stock after buying an additional 212 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $3,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. RMR Wealth Builders lifted its holdings in shares of Public Service Enterprise Group by 2.1% in the 4th quarter. RMR Wealth Builders now owns 16,980 shares of the utilities provider’s stock worth $1,435,000 after acquiring an additional 356 shares during the last quarter. USA Financial Formulas purchased a new position in Public Service Enterprise Group in the 4th quarter worth $1,116,000. Apella Capital LLC lifted its stake in Public Service Enterprise Group by 5.8% in the fourth quarter. Apella Capital LLC now owns 5,274 shares of the utilities provider’s stock worth $446,000 after purchasing an additional 291 shares during the last quarter. Park Avenue Securities LLC boosted its position in Public Service Enterprise Group by 4.3% during the fourth quarter. Park Avenue Securities LLC now owns 26,020 shares of the utilities provider’s stock valued at $2,198,000 after buying an additional 1,065 shares during the period. Finally, Kathmere Capital Management LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $215,000. 73.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Kim C. Hanemann sold 956 shares of the 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 in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,234 shares of company stock worth $722,037 in the last quarter. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 2.5 %

Shares of Public Service Enterprise Group stock opened at $88.41 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22. The company has a market cap of $44.05 billion, a P/E ratio of 21.72, a PEG ratio of 2.81 and a beta of 0.65. The company’s fifty day simple moving average is $87.57 and its two-hundred day simple moving average is $84.23.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays lowered their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.17.

About Public Service Enterprise Group

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.