Raymond James Trust N.A. Grows Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)


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Raymond James Trust N.A. grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,832 shares of the utilities provider’s stock after buying an additional 305 shares during the period. Raymond James Trust N.A.’s holdings in Public Service Enterprise Group were worth $5,179,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Dimension Capital Management LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $26,000. CX Institutional grew its stake in Public Service Enterprise Group by 145.4% in the 3rd quarter. CX Institutional now owns 589 shares of the utilities provider’s stock worth $32,000 after buying an additional 349 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $43,000. McIlrath & Eck LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $44,000. Finally, Berman Capital Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 70.8% in the 3rd quarter. Berman Capital Advisors LLC now owns 796 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 330 shares in the last quarter. 68.23% of the stock is owned by institutional investors and hedge funds.

NYSE PEG traded up $1.33 during trading on Wednesday, hitting $58.68. The company had a trading volume of 2,673,445 shares, compared to its average volume of 2,788,918. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.88. Public Service Enterprise Group Incorporated has a one year low of $34.75 and a one year high of $62.15. The company has a market cap of $29.68 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 5.05 and a beta of 0.53. The company’s fifty day moving average is $57.39 and its 200-day moving average is $55.57.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Friday, October 30th. The utilities provider reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.01). Public Service Enterprise Group had a return on equity of 11.52% and a net margin of 18.09%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 31st. Shareholders of record on Thursday, December 10th were issued a $0.49 dividend. The ex-dividend date was Wednesday, December 9th. This represents a $1.96 annualized dividend and a yield of 3.34%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.76%.

A number of equities research analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Public Service Enterprise Group from $59.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 18th. KeyCorp cut their price objective on shares of Public Service Enterprise Group from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday. Mizuho cut their price objective on shares of Public Service Enterprise Group from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, January 8th. Royal Bank of Canada upped their price objective on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. Finally, Bank of America upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $58.00 to $57.00 in a report on Tuesday, September 22nd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $63.46.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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