Patton Albertson Miller Group LLC Has $7.06 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Patton Albertson Miller Group LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 83,544 shares of the utilities provider’s stock after buying an additional 2,192 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Public Service Enterprise Group were worth $7,059,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Old Port Advisors boosted its position in Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after acquiring an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC increased its stake in Public Service Enterprise Group by 1.3% in the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 115 shares in the last quarter. First Commonwealth Financial Corp PA increased its position in Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after buying an additional 123 shares in the last quarter. Cigna Investments Inc. New raised its stake in Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after buying an additional 124 shares during the period. Finally, Great Lakes Retirement Inc. boosted its holdings in Public Service Enterprise Group by 0.4% in the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after acquiring an additional 127 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $88.04 on Friday. The firm has a market capitalization of $43.86 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.82 and a beta of 0.65. 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 stock has a fifty day moving average of $87.80 and a 200 day moving average of $84.86. Public Service Enterprise Group Incorporated has a 52-week low of $56.91 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 earnings per share. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PEG shares. Scotiabank upped their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Barclays decreased their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, UBS Group boosted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

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.