Advisors Asset Management Inc. Has $931,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Advisors Asset Management Inc. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,433 shares of the utilities provider’s stock after purchasing an additional 1,453 shares during the quarter. Advisors Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of PEG. Old Port Advisors lifted its position in Public Service Enterprise Group by 0.5% during the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after acquiring an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC lifted its position in shares of Public Service Enterprise Group by 1.3% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after purchasing an additional 115 shares during the last quarter. Cigna Investments Inc. New boosted its stake in Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 124 shares during the period. Great Lakes Retirement Inc. grew its holdings in Public Service Enterprise Group by 0.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock valued at $2,619,000 after buying an additional 127 shares during the last quarter. Finally, Brighton Jones LLC increased its position in Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after buying an additional 131 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $94.51 on Wednesday. The stock has a market capitalization of $47.09 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 3.39 and a beta of 0.61. The firm’s 50-day moving average price is $88.74 and its two-hundred day moving average price is $81.01. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $94.67.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.54%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI upped their target price on shares of 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. UBS Group raised their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays decreased their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley raised their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Scotiabank boosted their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.69.

Insiders Place Their Bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,739 shares of company stock valued at $2,467,753 in the last 90 days. 0.57% of the stock is currently owned by insiders.

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.