Applied Finance Capital Management LLC Has $11.99 Million Position in Public Service Enterprise Group Incorporated $PEG

Applied Finance Capital Management LLC cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 143,638 shares of the utilities provider’s stock after selling 7,681 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Public Service Enterprise Group were worth $11,988,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PEG. Twin Peaks Wealth Advisors LLC bought a new position in Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $27,000. GoalVest Advisory LLC boosted its holdings in shares of Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $38,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $81.18 on Tuesday. The firm has a market cap of $40.52 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.60 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The stock has a 50-day moving average price of $79.90 and a 200 day moving average price of $82.07.

Public Service Enterprise Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. UBS Group cut their price target on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $85.00 price objective (down previously from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. Finally, BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.96.

Public Service Enterprise Group 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.