International Assets Investment Management LLC Makes New $423,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

International Assets Investment Management LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,910 shares of the utilities provider’s stock, valued at approximately $423,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Schechter Investment Advisors LLC grew its stake in shares of Public Service Enterprise Group by 1.0% in the 3rd quarter. Schechter Investment Advisors LLC now owns 18,359 shares of the utilities provider’s stock valued at $1,032,000 after buying an additional 188 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Public Service Enterprise Group by 3.0% in the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,653 shares of the utilities provider’s stock valued at $374,000 after buying an additional 193 shares in the last quarter. First Personal Financial Services grew its stake in shares of Public Service Enterprise Group by 19.5% in the 4th quarter. First Personal Financial Services now owns 1,226 shares of the utilities provider’s stock valued at $75,000 after buying an additional 200 shares in the last quarter. Grant GrossMendelsohn LLC grew its stake in shares of Public Service Enterprise Group by 4.6% in the 3rd quarter. Grant GrossMendelsohn LLC now owns 4,551 shares of the utilities provider’s stock valued at $255,000 after buying an additional 202 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Public Service Enterprise Group by 2.2% in the 4th quarter. UMB Bank n.a. now owns 9,428 shares of the utilities provider’s stock valued at $578,000 after buying an additional 202 shares in the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.

Public Service Enterprise Group Stock Down 0.2 %

Shares of PEG stock opened at $63.48 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $52.51 and a 12 month high of $75.61. The firm has a market cap of $31.66 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 4.26 and a beta of 0.56. The stock has a 50 day moving average of $60.48 and a 200-day moving average of $59.57. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.20.

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Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 10th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.59%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, March 9th. Public Service Enterprise Group’s dividend payout ratio is presently 110.68%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEG. Morgan Stanley lowered their price target on Public Service Enterprise Group from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, March 21st. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating for the company in a research report on Monday, March 13th. StockNews.com assumed coverage on Public Service Enterprise Group in a research report on Thursday, March 16th. They set a “hold” rating for the company. Mizuho decreased their target price on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, March 13th. Finally, TheStreet raised Public Service Enterprise Group from a “c” rating to a “b” rating in a research report on Tuesday, February 21st. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and an average price target of $65.95.

Insider Activity at Public Service Enterprise Group

In related news, COO Eric Carr sold 7,105 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the completion of the transaction, the chief operating officer now directly owns 6,482 shares in the company, valued at $373,557.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Profile

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Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.