Park Avenue Securities LLC Acquires 674 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Park Avenue Securities LLC grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,566 shares of the utilities provider’s stock after purchasing an additional 674 shares during the period. Park Avenue Securities LLC’s holdings in Public Service Enterprise Group were worth $369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PEG. Destiny Wealth Partners LLC raised its holdings in shares of Public Service Enterprise Group by 304.5% in the third quarter. Destiny Wealth Partners LLC now owns 453 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 341 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $30,000. Tradition Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $33,000. Total Clarity Wealth Management Inc. purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $34,000. Finally, WASHINGTON TRUST Co raised its holdings in shares of Public Service Enterprise Group by 47.5% in the second quarter. WASHINGTON TRUST Co now owns 590 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 70.67% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $60.43 on Monday. The company has a market capitalization of $30.15 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 5.33 and a beta of 0.56. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $60.43 and a 200-day moving average price of $61.30. Public Service Enterprise Group Incorporated has a twelve month low of $52.51 and a twelve month high of $75.61.

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

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 9th were given a $0.54 dividend. The ex-dividend date was Thursday, December 8th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.57%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 158.82%.

Analyst Upgrades and Downgrades

PEG has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, November 1st. Credit Suisse Group raised their price objective on shares of Public Service Enterprise Group to $63.00 in a report on Friday, November 4th. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $71.00 to $69.00 and set an “overweight” rating for the company in a report on Thursday, December 15th. Guggenheim decreased their price objective on shares of Public Service Enterprise Group to $67.00 in a report on Friday, November 4th. Finally, UBS Group decreased their price objective on shares of Public Service Enterprise Group to $74.00 in a report on Friday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.