Varma Mutual Pension Insurance Co Buys 10,300 Shares of Public Service Enterprise Group Incorporated $PEG

Varma Mutual Pension Insurance Co increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,337 shares of the utilities provider’s stock after acquiring an additional 10,300 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Public Service Enterprise Group were worth $10,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the second quarter worth $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter worth $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Public Service Enterprise Group during the third quarter valued at about $27,000. GoalVest Advisory LLC raised its stake in shares of Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 225 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Public Service Enterprise Group in the third quarter worth about $38,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $86.12 on Friday. The company’s fifty day moving average price is $80.22 and its 200-day moving average price is $82.07. The stock has a market cap of $42.99 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 2.73 and a beta of 0.59. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.9%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.58%.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $85.00 price target (down previously from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price for the company in a report on Wednesday, January 7th. Barclays dropped their price target on Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. TD Cowen boosted their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $90.96.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.