Mutual of America Capital Management LLC Raises Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mutual of America Capital Management LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,178 shares of the utilities provider’s stock after purchasing an additional 2,560 shares during the period. Mutual of America Capital Management LLC’s holdings in Public Service Enterprise Group were worth $10,830,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group in the third quarter valued at $35,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $35,000. Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $56,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Public Service Enterprise Group during the third quarter worth approximately $59,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Public Service Enterprise Group Stock Up 0.5 %

PEG opened at $81.09 on Friday. The business has a 50 day moving average price of $84.78 and a two-hundred day moving average price of $86.04. Public Service Enterprise Group Incorporated has a 52 week low of $61.48 and a 52 week high of $95.22. The company has a market cap of $40.40 billion, a PE ratio of 19.92, a P/E/G ratio of 2.78 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.11%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s payout ratio is 71.19%.

Public Service Enterprise Group Company 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.