Empower Advisory Group LLC Has $493,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Empower Advisory Group LLC boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,839 shares of the utilities provider’s stock after buying an additional 306 shares during the period. Empower Advisory Group LLC’s holdings in Public Service Enterprise Group were worth $493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the third quarter valued at $35,000. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $35,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $54,000. Financial Life Planners bought a new stake in Public Service Enterprise Group in the fourth quarter valued at $56,000. Finally, Legacy Investment Solutions LLC bought a new stake in Public Service Enterprise Group in the third quarter valued at $59,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.0 %

Shares of PEG stock opened at $85.77 on Thursday. Public Service Enterprise Group Incorporated has a 52-week low of $59.29 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a 50-day simple moving average of $85.07 and a two-hundred day simple moving average of $85.85. The company has a market capitalization of $42.73 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.94%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Scotiabank lifted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. UBS Group lifted their price target on shares of 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. Finally, Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Five 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

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.