MSH Capital Advisors LLC Acquires Shares of 2,883 Public Service Enterprise Group Incorporated (NYSE:PEG)

MSH Capital Advisors LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,883 shares of the utilities provider’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Center for Financial Planning Inc. increased its stake in shares of Public Service Enterprise Group by 3.0% in the fourth 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 grew its holdings in 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 worth $440,000 after acquiring an additional 121 shares in the last quarter. United Asset Strategies Inc. increased its position in shares of Public Service Enterprise Group by 2.6% in the 4th 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 last quarter. Fifth Third Bancorp raised its stake in shares of Public Service Enterprise Group by 0.4% in the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after purchasing an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Public Service Enterprise Group by 10.1% during the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 139 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $83.07 on Thursday. Public Service Enterprise Group Incorporated has a 12-month low of $64.40 and a 12-month high of $95.22. 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 firm has a market capitalization of $41.42 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The business has a 50 day simple moving average of $81.91 and a 200 day simple moving average of $85.64.

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. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were 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 3.03%. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Analysts Set New Price Targets

Several analysts recently weighed in on PEG shares. Guggenheim reissued a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America decreased their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.35.

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.