Genesis Private Wealth LLC Buys Shares of 2,482 Public Service Enterprise Group Incorporated (NYSE:PEG)

Genesis Private Wealth LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,482 shares of the utilities provider’s stock, valued at approximately $210,000.

A number of other hedge funds also recently modified their holdings of PEG. Intech Investment Management LLC grew its stake in shares of Public Service Enterprise Group by 8.5% during the 2nd quarter. Intech Investment Management LLC now owns 18,502 shares of the utilities provider’s stock worth $1,364,000 after acquiring an additional 1,449 shares during the period. Sei Investments Co. boosted its position in Public Service Enterprise Group by 26.9% during the second quarter. Sei Investments Co. now owns 308,490 shares of the utilities provider’s stock worth $22,736,000 after purchasing an additional 65,338 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of Public Service Enterprise Group by 2.0% in the second quarter. Ensign Peak Advisors Inc now owns 128,659 shares of the utilities provider’s stock worth $9,482,000 after purchasing an additional 2,510 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 1.2% during the 2nd quarter. ProShare Advisors LLC now owns 72,314 shares of the utilities provider’s stock valued at $5,330,000 after buying an additional 848 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in Public Service Enterprise Group by 20,841.9% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 6,492 shares of the utilities provider’s stock worth $478,000 after buying an additional 6,461 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 2.4 %

Shares of PEG stock opened at $88.22 on Thursday. The business has a 50-day moving average price of $87.78 and a two-hundred day moving average price of $84.72. 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 quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $43.96 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65.

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

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock valued at $722,037 over the last three months. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BMO Capital Markets increased their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Scotiabank boosted their price objective 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. Finally, UBS Group increased 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 research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong 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 $89.17.

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.