Turtle Creek Wealth Advisors LLC Invests $42,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 691 shares of the utilities provider’s stock, valued at approximately $42,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEG. D.A. Davidson & CO. lifted its holdings in shares of Public Service Enterprise Group by 7.5% during the first quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 256 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Public Service Enterprise Group by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider’s stock valued at $92,310,000 after purchasing an additional 83,174 shares in the last quarter. Prudential PLC bought a new position in shares of Public Service Enterprise Group during the first quarter valued at $798,000. Cetera Investment Advisers lifted its holdings in shares of Public Service Enterprise Group by 1.3% during the first quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider’s stock valued at $1,793,000 after purchasing an additional 332 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Public Service Enterprise Group during the first quarter valued at $214,000. 73.34% of the stock is 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 stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, 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 is available through this link. In related news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s 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 transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,948 shares of company stock worth $510,300. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PEG. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Bank of America increased their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets lowered their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a report on Monday, January 22nd. Finally, Royal Bank of Canada increased their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.33.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $66.47 on Friday. The stock has a market cap of $33.14 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58. 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 50 day moving average price of $63.03 and a 200-day moving average price of $61.60. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was down 17.0% on a year-over-year basis. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $0.60 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 46.78%.

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.