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

Peddock Capital Advisors LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,419 shares of the utilities provider’s stock after buying an additional 1,634 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $2,166,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Operose Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. Addison Advisors LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at about $31,000. CNB Bank purchased a new position in Public Service Enterprise Group in the third quarter worth about $34,000. Bruce G. Allen Investments LLC purchased a new position in Public Service Enterprise Group in the fourth quarter worth about $36,000. Finally, Anchor Investment Management LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of several analyst reports. Barclays raised their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a report on Monday, January 22nd. Royal Bank of Canada increased their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Evercore ISI boosted their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.15.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,322 shares of company stock valued at $607,376. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $0.83 on Wednesday, hitting $72.81. 2,004,819 shares of the company’s stock were exchanged, compared to its average volume of 2,885,516. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $72.83. The company has a 50-day simple moving average of $66.00 and a 200-day simple moving average of $62.80. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The stock has a market capitalization of $36.27 billion, a PE ratio of 19.90, a PEG ratio of 3.08 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. Public Service Enterprise Group’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.30%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

About Public Service Enterprise Group

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.