SPC Financial Inc. Has $946,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

SPC Financial Inc. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,202 shares of the utilities provider’s stock after purchasing an additional 306 shares during the period. SPC Financial Inc.’s holdings in Public Service Enterprise Group were worth $946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after acquiring an additional 49,285 shares during the period. FMR LLC raised its position in shares of Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after buying an additional 877,345 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after purchasing an additional 1,882,667 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Public Service Enterprise Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider’s stock worth $256,012,000 after buying an additional 78,452 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Public Service Enterprise Group by 5.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock valued at $235,194,000 after buying an additional 147,903 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4 %

PEG stock opened at $81.40 on Wednesday. The firm has a 50-day moving average price of $84.62 and a 200-day moving average price of $86.09. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $40.56 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate 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 revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.10%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PEG shares. Wells Fargo & Company cut their target price on 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. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday. 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 research report on Monday, January 27th. Finally, Guggenheim restated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Five research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.83.

Public Service Enterprise Group Company 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.