Peddock Capital Advisors LLC Has $2.17 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Peddock Capital Advisors LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Addison Advisors LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $31,000. Operose Advisors LLC raised its stake in Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after buying an additional 435 shares during the period. Bruce G. Allen Investments LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth about $36,000. CNB Bank acquired a new position in Public Service Enterprise Group in the third quarter valued at about $34,000. Finally, Anchor Investment Management LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $37,000. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PEG. Scotiabank cut their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Royal Bank of Canada raised their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Bank of America upped their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. One investment 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’s stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Public Service Enterprise Group Stock Performance

PEG stock traded up $0.83 during midday trading on Wednesday, reaching $72.81. 2,004,819 shares of the company were exchanged, compared to its average volume of 2,885,516. The firm has a market capitalization of $36.27 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. The business has a 50-day moving average price of $66.00 and a two-hundred day moving average price of $62.80. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $72.83. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly 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 analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The firm’s quarterly revenue was down 26.5% on a year-over-year basis. During the same quarter last year, the company posted $1.39 EPS. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale 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 that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The disclosure for this sale can be found here. Insiders sold 9,322 shares of company stock worth $607,376 in the last ninety days. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group 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.