JPL Wealth Management LLC Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

JPL Wealth Management LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,142 shares of the utilities provider’s stock, valued at approximately $2,716,000.

A number of other large investors have also bought and sold shares of PEG. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $54,000. Finally, Financial Life Planners purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 1.3 %

Public Service Enterprise Group stock opened at $79.58 on Thursday. The stock has a market cap of $39.68 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a one year low of $63.31 and a one year high of $95.22. The stock has a fifty day moving average of $83.94 and a 200 day moving average of $85.98.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current 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. This represents a $2.52 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEG shares. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Bank of America dropped their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.83.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.