Thoroughbred Financial Services LLC Raises Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Thoroughbred Financial Services LLC grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,171 shares of the utilities provider’s stock after buying an additional 337 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Public Service Enterprise Group were worth $267,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PEG. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the 4th quarter worth $35,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $39,000. Nemes Rush Group LLC purchased a new position in Public Service Enterprise Group in the 4th quarter valued at about $53,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter worth about $54,000. Finally, Financial Life Planners purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $56,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEG has been the subject of several research reports. Guggenheim reiterated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Scotiabank upped their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $89.65.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Down 4.6 %

NYSE PEG opened at $77.83 on Monday. 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 stock has a market capitalization of $38.80 billion, a P/E ratio of 19.12, a PEG ratio of 2.78 and a beta of 0.52. The firm’s 50-day moving average is $82.34 and its two-hundred day moving average is $86.04. Public Service Enterprise Group Incorporated has a 12 month low of $64.03 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data 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 firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.24%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

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.