Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,126 shares of the utilities provider’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $203,000. LPL Financial LLC grew its holdings in Public Service Enterprise Group by 11.4% in the second quarter. LPL Financial LLC now owns 502,446 shares of the utilities provider’s stock valued at $37,030,000 after purchasing an additional 51,478 shares during the period. HBK Sorce Advisory LLC increased its position in shares of Public Service Enterprise Group by 4.3% in the second quarter. HBK Sorce Advisory LLC now owns 9,851 shares of the utilities provider’s stock valued at $726,000 after buying an additional 406 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $207,000. Finally, Wealthspire Advisors LLC acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at $298,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 0.1 %

NYSE:PEG traded down $0.09 on Monday, hitting $84.14. The stock had a trading volume of 1,984,469 shares, compared to its average volume of 2,028,905. The company has a fifty day moving average price of $87.44 and a two-hundred day moving average price of $84.05. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a market cap of $41.92 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 3.18 and a beta of 0.65.

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 the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date of this dividend 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 presently 58.97%.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company’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 of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,234 shares of company stock valued at $722,037. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PEG shares. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays decreased their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Morgan Stanley raised their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Evercore ISI increased their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

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.