Occidental Asset Management LLC lifted its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,906 shares of the utilities provider’s stock after acquiring an additional 1,039 shares during the quarter. Occidental Asset Management LLC’s holdings in Public Service Enterprise Group were worth $939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Keudell Morrison Wealth Management bought a new position in shares of Public Service Enterprise Group in the second quarter worth $2,953,000. Pictet Asset Management Ltd. increased its holdings in Public Service Enterprise Group by 14.8% during the 2nd quarter. Pictet Asset Management Ltd. now owns 4,348,826 shares of the utilities provider’s stock valued at $255,798,000 after purchasing an additional 562,238 shares during the period. United Capital Financial Advisers LLC increased its holdings in Public Service Enterprise Group by 4.8% during the 2nd quarter. United Capital Financial Advisers LLC now owns 13,510 shares of the utilities provider’s stock valued at $795,000 after purchasing an additional 614 shares during the period. National Pension Service increased its holdings in Public Service Enterprise Group by 6.1% during the 2nd quarter. National Pension Service now owns 621,035 shares of the utilities provider’s stock valued at $36,529,000 after purchasing an additional 35,699 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its position in Public Service Enterprise Group by 191.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 13,201 shares of the utilities provider’s stock valued at $776,000 after acquiring an additional 8,669 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

Shares of PEG opened at $59.19 on Thursday. The firm has a market cap of $29.52 billion, a PE ratio of 18.97, a P/E/G ratio of 4.69 and a beta of 0.24. The company has a current ratio of 0.75, a quick ratio of 0.52 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $58.66 and a two-hundred day simple moving average of $60.00. Public Service Enterprise Group Inc. has a 1-year low of $51.14 and a 1-year high of $63.88.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.55 billion. Public Service Enterprise Group had a net margin of 14.45% and a return on equity of 11.01%. During the same period in the previous year, the business earned $0.95 EPS. As a group, research analysts forecast that Public Service Enterprise Group Inc. will post 3.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.47 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.88 annualized dividend and a dividend yield of 3.18%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.26%.

Several equities analysts recently issued reports on the company. Mizuho upped their price objective on Public Service Enterprise Group from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wolfe Research cut Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating and set a $64.00 price objective on the stock. in a research report on Thursday, November 14th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $63.91.

In other news, COO Ralph A. Larossa sold 1,650 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $58.55, for a total value of $96,607.50. Following the completion of the sale, the chief operating officer now directly owns 76,069 shares in the company, valued at approximately $4,453,839.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 5,150 shares of company stock valued at $309,675 over the last 90 days. 0.51% of the stock is currently owned by company insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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