Ibex Wealth Advisors Buys Shares of 10,472 Public Service Enterprise Group Incorporated (NYSE:PEG)

Ibex Wealth Advisors bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,472 shares of the utilities provider’s stock, valued at approximately $885,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $48,000. Legacy Investment Solutions LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $59,000. Kimelman & Baird LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $66,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 611 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 0.5 %

Shares of PEG stock traded up $0.37 during mid-day trading on Wednesday, reaching $82.11. 445,043 shares of the company were exchanged, compared to its average volume of 2,214,311. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.24 and a fifty-two 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 market capitalization of $40.91 billion, a P/E ratio of 20.20, a P/E/G ratio of 2.82 and a beta of 0.65. The business’s 50 day simple moving average is $87.49 and its 200 day simple moving average is $85.07.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $0.85 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $88.00 to $84.00 in a report on Monday. Evercore ISI raised their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Scotiabank raised 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 report on Thursday, December 12th. Finally, BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,234 shares of company stock valued at $722,037. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group 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.