OneAscent Financial Services LLC Purchases 374 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

OneAscent Financial Services LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,657 shares of the utilities provider’s stock after acquiring an additional 374 shares during the quarter. OneAscent Financial Services LLC’s holdings in Public Service Enterprise Group were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $39,000. Nemes Rush Group LLC bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $53,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $54,000. Finally, Millstone Evans Group LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $56,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Down 4.6 %

NYSE:PEG opened at $77.83 on Friday. The firm has a market capitalization of $38.80 billion, a P/E ratio of 19.12, a PEG ratio of 2.78 and a beta of 0.60. The company’s fifty day moving average price is $82.34 and its 200-day moving average price is $86.02. Public Service Enterprise Group Incorporated has a 1-year low of $64.03 and a 1-year 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.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a dividend of $0.63 per share. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.24%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEG. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Morgan Stanley raised their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Scotiabank upped their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, Bank of America lowered their price target on 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.65.

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.