Masso Torrence Wealth Management Inc. Invests $254,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Masso Torrence Wealth Management Inc. bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, HoldingsChannel reports. The fund bought 4,159 shares of the utilities provider’s stock, valued at approximately $254,000.

Several other hedge funds also recently made changes to their positions in the company. Operose Advisors LLC raised its stake in Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. CNB Bank bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $34,000. Bruce G. Allen Investments LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $36,000. Anchor Investment Management LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $37,000. Finally, Blue Bell Private Wealth Management LLC raised its stake in Public Service Enterprise Group by 39.0% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.5 %

Shares of PEG traded down $0.31 during trading hours on Tuesday, reaching $66.40. The stock had a trading volume of 1,185,742 shares, compared to its average volume of 2,823,961. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $67.51. The firm has a 50-day moving average of $63.98 and a 200 day moving average of $62.08. The company has a market cap of $33.11 billion, a P/E ratio of 13.00, a P/E/G ratio of 2.88 and a beta of 0.58.

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

Public Service Enterprise Group Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on PEG. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Bank of America lifted their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Barclays lifted their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Scotiabank lowered their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were 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 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 90 days, insiders sold 7,748 shares of company stock worth $498,658. Corporate insiders own 0.18% of the company’s stock.

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.