4,159 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by Masso Torrence Wealth Management Inc.

Masso Torrence Wealth Management Inc. acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,159 shares of the utilities provider’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Operose Advisors LLC increased its stake in Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares during the period. CNB Bank acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $34,000. Bruce G. Allen Investments LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $36,000. Anchor Investment Management LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $37,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 39.0% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 195 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,748 shares of company stock worth $498,658. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PEG shares. BMO Capital Markets lowered their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Bank of America raised their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Scotiabank cut their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday. Royal Bank of Canada raised their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Trading Down 0.5 %

NYSE:PEG traded down $0.31 during midday trading on Tuesday, reaching $66.40. 1,185,742 shares of the stock traded hands, compared to its average volume of 2,823,961. The company has a fifty day moving average of $63.98 and a 200 day moving average of $62.08. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $67.51. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The stock has a market capitalization of $33.11 billion, a P/E ratio of 13.00, a PEG ratio of 2.88 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period in the prior year, the business posted $0.64 EPS. The firm’s revenue was down 17.0% compared to the same quarter last year. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.61%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

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.