Cerity Partners LLC Boosts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Cerity Partners LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 36.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 96,118 shares of the utilities provider’s stock after purchasing an additional 25,503 shares during the quarter. Cerity Partners LLC’s holdings in Public Service Enterprise Group were worth $8,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. Price T Rowe Associates Inc. MD increased its stake in shares of Public Service Enterprise Group by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 678,836 shares of the utilities provider’s stock worth $45,333,000 after acquiring an additional 4,941 shares during the period. Bayesian Capital Management LP boosted its holdings in Public Service Enterprise Group by 20.4% in the first quarter. Bayesian Capital Management LP now owns 11,804 shares of the utilities provider’s stock valued at $788,000 after purchasing an additional 2,000 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in Public Service Enterprise Group by 7.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,490 shares of the utilities provider’s stock worth $2,437,000 after purchasing an additional 2,522 shares during the period. Tidal Investments LLC raised its stake in shares of Public Service Enterprise Group by 14.5% during the 1st quarter. Tidal Investments LLC now owns 22,598 shares of the utilities provider’s stock valued at $1,509,000 after buying an additional 2,866 shares during the last quarter. Finally, First Western Trust Bank purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at about $211,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PEG shares. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Scotiabank upped their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Evercore ISI increased their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Four 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Stock Up 1.6 %

Shares of NYSE PEG opened at $94.51 on Wednesday. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $94.67. 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 company’s 50-day simple moving average is $88.74 and its 200-day simple moving average is $81.01. The firm has a market cap of $47.09 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61.

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

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.54%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. This represents a 14.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.92 % decrease in their position. 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 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.