IHT Wealth Management LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 27.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,494 shares of the utilities provider’s stock after purchasing an additional 1,845 shares during the quarter. IHT Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $478,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PFS Investments Inc. raised its stake in Public Service Enterprise Group by 10.4% during the 3rd quarter. PFS Investments Inc. now owns 24,870 shares of the utilities provider’s stock valued at $1,398,000 after acquiring an additional 2,350 shares in the last quarter. Fiduciary Trust Co. raised its stake in Public Service Enterprise Group by 9.0% during the 3rd quarter. Fiduciary Trust Co. now owns 7,794 shares of the utilities provider’s stock valued at $438,000 after acquiring an additional 646 shares in the last quarter. SVB Wealth LLC raised its stake in Public Service Enterprise Group by 36.3% during the 3rd quarter. SVB Wealth LLC now owns 12,101 shares of the utilities provider’s stock valued at $681,000 after acquiring an additional 3,224 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Public Service Enterprise Group by 11.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 495,858 shares of the utilities provider’s stock valued at $27,882,000 after acquiring an additional 51,291 shares in the last quarter. Finally, Alta Advisers Ltd bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $84,000. Institutional investors and hedge funds own 70.67% of the company’s stock.
Wall Street Analysts Forecast Growth
PEG has been the topic of several recent analyst reports. StockNews.com initiated coverage on Public Service Enterprise Group in a research note on Thursday. They set a “hold” rating on the stock. Morgan Stanley cut their target price on Public Service Enterprise Group from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 22nd. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, March 13th. Guggenheim cut their price objective on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. Finally, Mizuho cut their price objective on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a report on Monday, March 13th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Hold” and a consensus price target of $67.20.
Insider Buying and Selling
Public Service Enterprise Group Trading Down 1.1 %
NYSE:PEG opened at $58.53 on Monday. The stock has a fifty day simple moving average of $60.74 and a 200 day simple moving average of $60.11. The firm has a market capitalization of $29.19 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 10.04 and a beta of 0.55. Public Service Enterprise Group Incorporated has a 1-year low of $52.51 and a 1-year high of $75.61. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.20.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. Public Service Enterprise Group’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.43 earnings per share for the current year.
Public Service Enterprise Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be paid a $0.57 dividend. The ex-dividend date is Thursday, March 9th. This represents a $2.28 dividend on an annualized basis and a yield of 3.90%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.54. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 110.68%.
Public Service Enterprise Group Profile
Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.
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