Mystic Asset Management Inc. Has $350,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mystic Asset Management Inc. raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 65.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,144 shares of the utilities provider’s stock after purchasing an additional 1,644 shares during the quarter. Mystic Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $39,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $56,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PEG shares. Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Bank of America lowered their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.83.

Public Service Enterprise Group Trading Down 0.1 %

Public Service Enterprise Group stock opened at $82.16 on Wednesday. Public Service Enterprise Group Incorporated has a 52 week low of $63.54 and a 52 week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market capitalization of $40.96 billion, a P/E ratio of 20.19, a PEG ratio of 2.78 and a beta of 0.60. The stock has a 50-day simple moving average of $83.61 and a 200 day simple moving average of $86.04.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company posted $0.54 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 5.4% on a year-over-year basis. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

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.