Raymond James Financial Services Advisors Inc. Has $9.75 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Raymond James Financial Services Advisors Inc. grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 13.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,390 shares of the utilities provider’s stock after acquiring an additional 21,084 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Public Service Enterprise Group were worth $9,750,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. D.A. Davidson & CO. boosted its position in shares of Public Service Enterprise Group by 7.5% during the 1st quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 256 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Public Service Enterprise Group by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider’s stock worth $92,310,000 after purchasing an additional 83,174 shares in the last quarter. Prudential PLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth about $798,000. Cetera Investment Advisers boosted its position in shares of Public Service Enterprise Group by 1.3% during the 1st quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider’s stock worth $1,793,000 after purchasing an additional 332 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth about $214,000. 70.67% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 2.5 %

NYSE:PEG opened at $62.64 on Monday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.46 and a current ratio of 0.60. The firm has a market cap of $31.25 billion, a price-to-earnings ratio of 46.06, a price-to-earnings-growth ratio of 5.46 and a beta of 0.56. Public Service Enterprise Group Incorporated has a 52 week low of $52.51 and a 52 week high of $75.61. The firm has a 50-day moving average price of $59.44 and a two-hundred day moving average price of $61.34.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its quarterly earnings data on Monday, October 31st. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. Public Service Enterprise Group had a net margin of 7.08% and a return on equity of 12.96%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.44 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 9th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.45%. Public Service Enterprise Group’s payout ratio is currently 158.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PEG shares. Mizuho cut their price objective on shares of Public Service Enterprise Group from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, November 22nd. StockNews.com cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 1st. UBS Group dropped their price target on shares of Public Service Enterprise Group to $74.00 in a research report on Friday, November 4th. Guggenheim dropped their price target on shares of Public Service Enterprise Group to $67.00 in a research report on Friday, November 4th. Finally, Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $71.00 to $69.00 and set an “overweight” rating on the stock in a research report on Thursday, December 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Hold” and a consensus price target of $67.45.

About Public Service Enterprise Group

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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 PSEG 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.