EverSource Wealth Advisors LLC Increases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

EverSource Wealth Advisors LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 54.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,494 shares of the utilities provider’s stock after buying an additional 881 shares during the period. EverSource Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEG. KBC Group NV lifted its position in shares of Public Service Enterprise Group by 162.3% during the 3rd quarter. KBC Group NV now owns 102,735 shares of the utilities provider’s stock valued at $9,165,000 after buying an additional 63,565 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Public Service Enterprise Group by 2.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 19,382 shares of the utilities provider’s stock valued at $1,729,000 after buying an additional 390 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Public Service Enterprise Group by 84.6% in the 3rd quarter. CIBC Asset Management Inc now owns 147,246 shares of the utilities provider’s stock valued at $13,136,000 after purchasing an additional 67,487 shares in the last quarter. Empowered Funds LLC lifted its holdings in Public Service Enterprise Group by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider’s stock valued at $746,000 after purchasing an additional 597 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in Public Service Enterprise Group by 5.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 125,618 shares of the utilities provider’s stock valued at $11,206,000 after purchasing an additional 6,193 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

Public Service Enterprise Group Stock Up 2.3 %

Shares of NYSE:PEG opened at $81.59 on Monday. The business has a 50-day moving average price of $83.74 and a 200 day moving average price of $86.02. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $40.68 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12-month low of $63.31 and a 12-month high of $95.22.

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

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 3.09%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Public Service Enterprise Group Company 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.