Orion Portfolio Solutions LLC Purchases 239 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Orion Portfolio Solutions LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,174 shares of the utilities provider’s stock after purchasing an additional 239 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Public Service Enterprise Group were worth $2,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PEG. 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 bought a new stake in Public Service Enterprise Group in the fourth quarter valued at $39,000. Stonebridge Financial Group LLC purchased a new position in Public Service Enterprise Group during the 4th quarter valued at $54,000. Millstone Evans Group LLC bought a new position in Public Service Enterprise Group in the 4th quarter worth $56,000. Finally, Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the 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 transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

PEG has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Guggenheim restated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Scotiabank upped their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

Public Service Enterprise Group Stock Up 1.2 %

Public Service Enterprise Group stock opened at $83.26 on Wednesday. The firm has a market cap of $41.51 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12 month low of $64.03 and a 12 month high of $95.22. The stock has a fifty day simple moving average of $82.77 and a two-hundred day simple moving average of $86.11.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results 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 business had revenue of $2.47 billion during the quarter, compared to analyst estimates 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 was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. Public Service Enterprise Group’s payout ratio is currently 71.19%.

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.