Wingate Wealth Advisors Inc. Invests $35,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 419 shares of the utilities provider’s stock, valued at approximately $35,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEG. CWM LLC grew its holdings in Public Service Enterprise Group by 4.2% during the 3rd quarter. CWM LLC now owns 21,653 shares of the utilities provider’s stock worth $1,932,000 after acquiring an additional 867 shares in the last quarter. Creative Planning lifted its position in shares of Public Service Enterprise Group by 5.2% in the 3rd quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock worth $8,537,000 after purchasing an additional 4,710 shares during the period. GenWealth Group Inc. purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $551,000. Luts & Greenleigh Group Inc. bought a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $217,000. Finally, Braun Bostich & Associates Inc. purchased a new position in Public Service Enterprise Group during the third quarter valued at approximately $217,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on 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 cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Scotiabank lifted 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 note on Thursday, December 12th. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. 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 analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on 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, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,712 shares of company stock worth $317,644 over the last three months. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $83.75 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company’s fifty day moving average price is $85.77 and its 200-day moving average price is $85.61. Public Service Enterprise Group Incorporated has a 1-year low of $57.40 and a 1-year high of $95.22. The firm has a market capitalization of $41.73 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Public Service Enterprise Group Company 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.