Public Service Enterprise Group Incorporated $PEG Shares Purchased by Aberdeen Group plc

Aberdeen Group plc boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 31.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,119,313 shares of the utilities provider’s stock after acquiring an additional 268,291 shares during the quarter. Aberdeen Group plc owned about 0.22% of Public Service Enterprise Group worth $92,618,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PEG. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth about $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Cedar Mountain Advisors LLC purchased a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $27,000. GoalVest Advisory LLC lifted its stake in Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 225 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $86.12 on Monday. The firm has a market cap of $42.98 billion, a PE ratio of 20.70, a P/E/G ratio of 2.79 and a beta of 0.59. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve 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 business has a 50-day moving average price of $80.22 and a 200 day moving average price of $81.97.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were given a dividend of $0.63 per share. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.9%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Analysts Set New Price Targets

PEG has been the topic of a number of research reports. BTIG Research started coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price objective on the stock. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $85.00 target price (down previously from $88.00) on shares of Public Service Enterprise Group in a research note on Thursday, January 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.