Mutual Advisors LLC Increases Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Mutual Advisors LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 249.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,163 shares of the utilities provider’s stock after purchasing an additional 9,399 shares during the quarter. Mutual Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,089,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PEG. Twin Peaks Wealth Advisors LLC bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at about $27,000. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $27,000. Finally, GoalVest Advisory LLC grew its holdings in shares of Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Down 1.8%

Shares of PEG opened at $80.13 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The firm has a market capitalization of $40.00 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.63 and a beta of 0.59. The company has a 50-day moving average of $80.03 and a 200 day moving average of $82.22. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the business earned $0.90 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a research note on Thursday, January 22nd. Argus raised Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a report on Wednesday, January 7th. TD Cowen lifted their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, BTIG Research assumed coverage on Public Service Enterprise Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $90.96.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the sale, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.