Occidental Asset Management LLC Raises Stock Position in Public Service Enterprise Group Inc. (NYSE:PEG)

Occidental Asset Management LLC increased its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 7.0% in the 4th quarter, HoldingsChannel reports. 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Smithfield Trust Co. increased its holdings in shares of Public Service Enterprise Group by 3.2% in the 3rd quarter. Smithfield Trust Co. now owns 6,393 shares of the utilities provider’s stock valued at $397,000 after purchasing an additional 200 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Public Service Enterprise Group by 0.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,065 shares of the utilities provider’s stock valued at $2,474,000 after acquiring an additional 206 shares in the last quarter. FormulaFolio Investments LLC increased its holdings in Public Service Enterprise Group by 6.2% during the 4th quarter. FormulaFolio Investments LLC now owns 3,579 shares of the utilities provider’s stock valued at $211,000 after acquiring an additional 209 shares in the last quarter. Hallmark Capital Management Inc. increased its holdings in Public Service Enterprise Group by 0.4% during the 3rd quarter. Hallmark Capital Management Inc. now owns 52,165 shares of the utilities provider’s stock valued at $3,238,000 after acquiring an additional 230 shares in the last quarter. Finally, First PREMIER Bank increased its holdings in Public Service Enterprise Group by 0.4% during the 4th quarter. First PREMIER Bank now owns 68,056 shares of the utilities provider’s stock valued at $4,019,000 after acquiring an additional 240 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PEG opened at $59.19 on Thursday. The company has a market cap of $29.52 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 4.69 and a beta of 0.24. Public Service Enterprise Group Inc. has a 12 month low of $51.14 and a 12 month high of $63.88. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.75 and a quick ratio of 0.52. The company has a 50-day simple moving average of $58.66 and a 200-day simple moving average of $60.00.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate 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 firm posted $0.95 earnings per share. On average, analysts anticipate that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.47 dividend. The ex-dividend date of this dividend 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 is presently 60.26%.

In related news, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $58.73, for a total value of $96,904.50. Following the sale, the chief operating officer now directly owns 74,419 shares of the company’s stock, valued at $4,370,627.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 5,150 shares of company stock worth $309,675 over the last three months. Corporate insiders own 0.51% of the company’s stock.

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

About Public Service Enterprise Group

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.

Further Reading: Gross Domestic Product (GDP)

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

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