CreativeOne Wealth LLC Increases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

CreativeOne Wealth LLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,693 shares of the utilities provider’s stock after purchasing an additional 208 shares during the period. CreativeOne Wealth LLC’s holdings in Public Service Enterprise Group were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $35,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $39,000. Nemes Rush Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $53,000. Stonebridge Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $54,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $83.33 on Friday. The company has a market cap of $41.55 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a one year low of $65.36 and a one year high of $95.22. The business has a fifty day moving average of $81.89 and a two-hundred day moving average of $85.51. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.02%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. 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 report on Thursday, March 20th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Barclays decreased their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, Guggenheim reiterated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.35.

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.