Central Asset Investments & Management Holdings HK Ltd Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,300 shares of the utilities provider’s stock, valued at approximately $448,000.

A number of other hedge funds have also bought and sold shares of PEG. Center for Financial Planning Inc. lifted its holdings in Public Service Enterprise Group by 3.0% during the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after buying an additional 120 shares during the last quarter. Spire Wealth Management raised its position in shares of Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after acquiring an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA lifted its stake in Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after purchasing an additional 123 shares during the last quarter. Cigna Investments Inc. New boosted its holdings in Public Service Enterprise Group by 2.5% in the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 124 shares during the period. Finally, United Asset Strategies Inc. boosted its holdings in Public Service Enterprise Group by 2.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 127 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on 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 owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Guggenheim reissued a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. UBS Group lifted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Scotiabank raised their price target 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. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Public Service Enterprise Group Stock Down 0.4 %

PEG opened at $82.92 on Thursday. The stock’s 50 day moving average price is $84.90 and its 200 day moving average price is $86.03. 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 cap of $41.31 billion, a P/E ratio of 20.37, a P/E/G ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 12 month low of $59.67 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results 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 for 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%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. 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 dividend yield of 3.04%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend 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.