Public Service Enterprise Group Incorporated $PEG Shares Purchased by Assetmark Inc.

Assetmark Inc. increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 893,950 shares of the utilities provider’s stock after purchasing an additional 38,949 shares during the period. Assetmark Inc. owned approximately 0.18% of Public Service Enterprise Group worth $74,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the second quarter worth $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $25,000. Cedar Mountain Advisors LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth about $27,000. GoalVest Advisory LLC boosted its holdings 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. acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG stock opened at $84.59 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $42.22 billion, a P/E ratio of 20.33, a PEG ratio of 2.72 and a beta of 0.59. The business has a 50 day simple moving average of $80.09 and a 200-day simple moving average of $82.08. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25.

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. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PEG shares. Jefferies Financial Group raised shares of 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target for the company in a research report on Wednesday, January 7th. TD Cowen boosted their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. One investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.96.

About Public Service Enterprise Group

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.