Nicolet Advisory Services LLC Takes $202,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Nicolet Advisory Services LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,202 shares of the utilities provider’s stock, valued at approximately $202,000.

Other large investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter worth $268,000. Price T Rowe Associates Inc. MD increased its stake in shares of Public Service Enterprise Group by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 678,836 shares of the utilities provider’s stock worth $45,333,000 after purchasing an additional 4,941 shares during the period. Bayesian Capital Management LP lifted its position in shares of Public Service Enterprise Group by 20.4% during the 1st quarter. Bayesian Capital Management LP now owns 11,804 shares of the utilities provider’s stock worth $788,000 after purchasing an additional 2,000 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Public Service Enterprise Group by 7.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,490 shares of the utilities provider’s stock worth $2,437,000 after purchasing an additional 2,522 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new stake in Public Service Enterprise Group during the 1st quarter valued at approximately $334,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.1 %

Shares of PEG opened at $92.40 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a market cap of $46.04 billion, a PE ratio of 22.70, a PEG ratio of 3.39 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $93.00. The stock has a 50 day simple moving average of $88.38 and a 200-day simple moving average of $80.73.

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, topping 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 during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.60 dividend. The ex-dividend date 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 presently 58.97%.

Analyst Ratings Changes

A number of brokerages have recently commented on PEG. BMO Capital Markets upped their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Scotiabank increased their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Evercore ISI boosted their price objective 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. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Four equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group 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.