Foundations Investment Advisors LLC Raises Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Foundations Investment Advisors LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 27.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,621 shares of the utilities provider's stock after buying an additional 18,627 shares during the quarter. Foundations Investment Advisors LLC's holdings in Public Service Enterprise Group were worth $7,403,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Heritage Wealth Management Inc. acquired a new position in Public Service Enterprise Group during the 2nd quarter worth about $422,000. DRW Securities LLC purchased a new stake in Public Service Enterprise Group during the third quarter worth about $8,244,000. Cullen Investment Group LTD. lifted its position in shares of Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock worth $2,270,000 after purchasing an additional 10,610 shares in the last quarter. Arvest Bank Trust Division purchased a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $2,860,000. Finally, Cerity Partners LLC grew its holdings in shares of Public Service Enterprise Group by 36.1% in the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider's stock valued at $8,575,000 after purchasing an additional 25,503 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of research reports. UBS Group increased 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. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a research note on Monday, October 21st. Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $88.00 to $84.00 in a research report on Monday. Finally, Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.83.

Public Service Enterprise Group Stock Down 6.9 %

Shares of NYSE:PEG traded down $6.06 during trading on Monday, hitting $81.99. 5,554,775 shares of the company were exchanged, compared to its average volume of 2,263,341. 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 firm's 50 day moving average price is $87.80 and its 200-day moving average price is $84.99. The stock has a market capitalization of $40.85 billion, a P/E ratio of 20.14, a PEG ratio of 2.82 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 12-month low of $57.24 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.93%. Public Service Enterprise Group's dividend payout ratio is presently 58.97%.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 5,900 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company's stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares of the company's stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,234 shares of company stock valued at $722,037 over the last quarter. Company insiders own 0.57% of the company's stock.

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.