Golden State Equity Partners Has $747,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Golden State Equity Partners raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,836 shares of the utilities provider’s stock after buying an additional 1,507 shares during the period. Golden State Equity Partners’ holdings in Public Service Enterprise Group were worth $747,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC boosted its position in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after buying an additional 18,627 shares in the last quarter. DRW Securities LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at approximately $8,244,000. Cullen Investment Group LTD. boosted its position in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after buying an additional 10,610 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in Public Service Enterprise Group in the third quarter valued at approximately $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $2,565,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PEG. Evercore ISI raised their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised 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 note on Monday, October 21st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.83.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,234 shares of company stock worth $722,037. 0.18% of the stock is currently owned by company insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $83.57 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $57.24 and a twelve month high of $95.22. The firm has a fifty day simple moving average of $86.97 and a 200 day simple moving average of $85.17. The company has a market capitalization of $41.64 billion, a PE ratio of 20.53, a P/E/G ratio of 2.67 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

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.