Mission Wealth Management LP Purchases 3,973 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Mission Wealth Management LP boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 38.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,414 shares of the utilities provider’s stock after acquiring an additional 3,973 shares during the period. Mission Wealth Management LP’s holdings in Public Service Enterprise Group were worth $881,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Modera Wealth Management LLC raised its stake in shares of Public Service Enterprise Group by 2.6% in the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock valued at $378,000 after buying an additional 170 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Public Service Enterprise Group by 0.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock worth $3,567,000 after buying an additional 177 shares during the period. Strategic Investment Advisors MI grew its stake in Public Service Enterprise Group by 1.0% in the 4th quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after buying an additional 179 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock worth $263,000 after acquiring an additional 183 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Public Service Enterprise Group by 2.3% during the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock worth $519,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Guggenheim lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a report on Monday, January 22nd. Royal Bank of Canada upped their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Barclays raised their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company upped their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,948 shares of company stock worth $511,814. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 1.1 %

Shares of NYSE:PEG opened at $69.81 on Thursday. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $70.46. The stock has a market capitalization of $34.81 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 3.02 and a beta of 0.56. The stock has a fifty day simple moving average of $65.17 and a two-hundred day simple moving average of $62.48. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.19%. The business’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

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.