Continental Investors Services Inc. Buys Shares of 3,584 Public Service Enterprise Group Incorporated (NYSE:PEG)

Continental Investors Services Inc. bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,584 shares of the utilities provider’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $281,000. CVA Family Office LLC grew its holdings in shares of Public Service Enterprise Group by 46.8% during the 3rd quarter. CVA Family Office LLC now owns 800 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 255 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Public Service Enterprise Group by 27.7% during the 3rd quarter. IHT Wealth Management LLC now owns 8,494 shares of the utilities provider’s stock worth $478,000 after purchasing an additional 1,845 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Public Service Enterprise Group by 34.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 24,828 shares of the utilities provider’s stock worth $1,397,000 after purchasing an additional 6,401 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $3,373,000. Institutional investors and hedge funds own 70.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PEG. TheStreet raised Public Service Enterprise Group from a “c” rating to a “b” rating in a report on Tuesday, February 21st. Mizuho cut their target price on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, March 13th. StockNews.com started coverage on Public Service Enterprise Group in a research report on Thursday. They set a “hold” rating for the company. Guggenheim cut their target price on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Finally, BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating for the company in a research report on Monday, March 13th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Hold” and an average price target of $67.20.

Insider Activity

In other news, COO Eric Carr sold 7,105 shares of Public Service Enterprise Group stock in a transaction on Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the completion of the sale, the chief operating officer now directly owns 6,482 shares of the company’s stock, valued at approximately $373,557.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Trading Down 1.1 %

Shares of PEG opened at $58.53 on Friday. The stock has a fifty day moving average price of $60.74 and a two-hundred day moving average price of $60.14. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.50 and a current ratio of 0.64. Public Service Enterprise Group Incorporated has a 52-week low of $52.51 and a 52-week high of $75.61. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 9.94 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company posted $0.69 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be paid a $0.57 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.54. This represents a $2.28 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Thursday, March 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 110.68%.

Public Service Enterprise Group Company Profile

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Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.