Atomi Financial Group Inc. Purchases New Shares in Public Service Enterprise Group Incorporated (NYSE:PEG)

Atomi Financial Group Inc. acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, HoldingsChannel reports. The fund acquired 2,393 shares of the utilities provider’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp raised its position in shares of Public Service Enterprise Group by 1.1% in the second quarter. Mackenzie Financial Corp now owns 51,118 shares of the utilities provider’s stock valued at $3,767,000 after buying an additional 566 shares during the last quarter. Scientech Research LLC acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $427,000. Magnolia Capital Advisors LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $3,649,000. Creative Planning lifted its stake in Public Service Enterprise Group by 17.5% in the 2nd quarter. Creative Planning now owns 90,985 shares of the utilities provider’s stock worth $6,706,000 after purchasing an additional 13,559 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 22.1% during the 2nd quarter. NewEdge Advisors LLC now owns 27,559 shares of the utilities provider’s stock worth $2,031,000 after purchasing an additional 4,993 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted 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. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $88.00 to $84.00 in a research report on Monday. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $81.99 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $57.24 and a 52 week high of $95.22. The company has a fifty day simple moving average of $87.80 and a two-hundred day simple moving average of $84.99. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a market cap of $40.85 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. As a group, equities analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.93%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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 in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock worth $722,037 over the last 90 days. 0.57% of the stock is owned by insiders.

About Public Service Enterprise Group

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.