Keyes Stange & Wooten Wealth Management LLC Has $442,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Keyes Stange & Wooten Wealth Management LLC grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 38.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,958 shares of the utilities provider’s stock after purchasing an additional 1,365 shares during the quarter. Keyes Stange & Wooten Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $442,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PEG. Charles Schwab Investment Management Inc. lifted its stake in shares of Public Service Enterprise Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock valued at $263,315,000 after purchasing an additional 19,650 shares during the period. Raymond James & Associates increased its holdings in Public Service Enterprise Group by 30.1% in the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after purchasing an additional 663,012 shares during the last quarter. Hamlin Capital Management LLC lifted its stake in Public Service Enterprise Group by 7.2% in the third quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock valued at $216,543,000 after buying an additional 162,731 shares during the period. Hsbc Holdings PLC lifted its stake in Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after buying an additional 732,443 shares during the period. Finally, abrdn plc boosted its holdings in Public Service Enterprise Group by 10.2% during the third quarter. abrdn plc now owns 1,792,186 shares of the utilities provider’s stock worth $159,074,000 after buying an additional 165,995 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The trade was 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 worth $2,467,753 over the last ninety days. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 0.0 %

Shares of PEG stock opened at $92.39 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $93.00. The stock has a market cap of $46.03 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 3.39 and a beta of 0.61. The firm’s 50-day moving average is $88.38 and its 200-day moving average is $80.61. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

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

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. 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 2.60%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Analyst Ratings Changes

Several research firms recently weighed in on PEG. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Evercore ISI increased their target price 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. BMO Capital Markets boosted their price target 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. Barclays dropped their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Four 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.69.

About Public Service Enterprise Group

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.