Peddock Capital Advisors LLC Boosts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Peddock Capital Advisors LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 37,126 shares of the utilities provider’s stock after acquiring an additional 212 shares during the period. Peddock Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $3,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedmont Private Capital increased its position in Public Service Enterprise Group by 11.9% during the fourth quarter. Wedmont Private Capital now owns 6,112 shares of the utilities provider’s stock worth $515,000 after buying an additional 649 shares during the period. Salem Investment Counselors Inc. raised its position in Public Service Enterprise Group by 67.5% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,119 shares of the utilities provider’s stock valued at $95,000 after purchasing an additional 451 shares during the last quarter. Czech National Bank boosted its stake in Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock worth $9,127,000 after purchasing an additional 6,545 shares during the period. RMR Wealth Builders boosted its stake in Public Service Enterprise Group by 2.1% during the 4th quarter. RMR Wealth Builders now owns 16,980 shares of the utilities provider’s stock worth $1,435,000 after purchasing an additional 356 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Public Service Enterprise Group by 5.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,575 shares of the utilities provider’s stock worth $7,367,000 after buying an additional 4,072 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,234 shares of company stock valued at $722,037 over the last quarter. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Barclays reduced their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Public Service Enterprise Group Price Performance

NYSE:PEG traded down $0.09 during mid-day trading on Monday, hitting $84.14. 1,984,469 shares of the company’s stock traded hands, compared to its average volume of 2,028,905. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market cap of $41.92 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. The firm’s 50 day simple moving average is $87.44 and its 200 day simple moving average is $84.05. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the company posted $0.85 EPS. The company’s revenue was up 7.6% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.