Mutual of America Capital Management LLC Increases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mutual of America Capital Management LLC grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 128,178 shares of the utilities provider’s stock after purchasing an additional 2,560 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Public Service Enterprise Group were worth $10,830,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter worth about $35,000. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group in the 4th quarter worth approximately $35,000. Stonebridge Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $54,000. Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $56,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PEG shares. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim reissued a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday. Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Activity at Public Service Enterprise Group

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

Public Service Enterprise Group Stock Up 0.5 %

Shares of NYSE PEG opened at $81.09 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $84.78 and its two-hundred day moving average is $86.04. Public Service Enterprise Group Incorporated has a 52-week low of $61.48 and a 52-week high of $95.22. The firm has a market cap of $40.40 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.11%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 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.