EP Wealth Advisors LLC Has $311,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

EP Wealth Advisors LLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,482 shares of the utilities provider’s stock after acquiring an additional 226 shares during the quarter. EP Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $311,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PEG. Heritage Wealth Management Inc. acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at about $422,000. DRW Securities LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $8,244,000. Cerity Partners LLC boosted its holdings in Public Service Enterprise Group by 36.1% in the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after acquiring an additional 25,503 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at approximately $2,965,000. Finally, Maxwell Wealth Strategies Inc. bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $723,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEG has been the topic of a number of recent research reports. BMO Capital Markets increased their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Evercore ISI lifted their price target 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. Finally, Bank of America increased their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,798 shares of company stock worth $1,595,921. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 1.0 %

Shares of NYSE:PEG opened at $86.81 on Friday. The company has a market capitalization of $43.25 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 3.14 and a beta of 0.62. 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 debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The business has a fifty day moving average price of $89.21 and a two-hundred day moving average price of $82.34.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 earnings per share. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.76%. Public Service Enterprise Group’s payout ratio is 58.97%.

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.