Motco Has $5.03 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Motco reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,436 shares of the utilities provider’s stock after selling 5,552 shares during the period. Motco’s holdings in Public Service Enterprise Group were worth $5,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PEG. Destiny Wealth Partners LLC increased 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 acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at about $30,000. Tradition Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at about $33,000. Total Clarity Wealth Management Inc. acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at about $34,000. Finally, WASHINGTON TRUST Co grew its stake 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 acquiring an additional 190 shares in the last quarter. 70.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on PEG shares. Wolfe Research downgraded shares of Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating in a research note on Thursday, November 17th. Credit Suisse Group upped their price target on shares of Public Service Enterprise Group to $63.00 in a research note on Friday, November 4th. 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. Morgan Stanley cut 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 research report on Thursday, December 15th. Finally, Mizuho cut their price objective on shares of Public Service Enterprise Group from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Hold” and an average target price of $67.45.

Public Service Enterprise Group Stock Down 0.9 %

PEG stock opened at $59.47 on Friday. The stock has a market capitalization of $29.67 billion, a P/E ratio of 44.13, a price-to-earnings-growth ratio of 5.47 and a beta of 0.56. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 1.22. Public Service Enterprise Group Incorporated has a 12 month low of $52.51 and a 12 month high of $75.61. The firm has a 50-day moving average price of $60.39 and a 200-day moving average price of $61.35.

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

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 9th were issued a $0.54 dividend. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.63%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 158.82%.

Public Service Enterprise Group Profile

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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.