Moody Lynn & Lieberson LLC Has $836,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Moody Lynn & Lieberson LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,892 shares of the utilities provider’s stock after acquiring an additional 210 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Public Service Enterprise Group were worth $836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PEG. Geode Capital Management LLC boosted its position in Public Service Enterprise Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock worth $1,051,744,000 after acquiring an additional 49,285 shares during the period. FMR LLC boosted its holdings in shares of Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after purchasing an additional 877,345 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Public Service Enterprise Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock worth $263,315,000 after purchasing an additional 19,650 shares during the period. Raymond James & Associates increased its stake in Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after buying an additional 663,012 shares during the period. Finally, Franklin Resources Inc. lifted its position in Public Service Enterprise Group by 5.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock worth $235,194,000 after buying an additional 147,903 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $88.04 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $56.91 and a 1-year high of $95.22. The firm has a fifty day simple moving average of $87.80 and a 200-day simple moving average of $84.86. 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 capitalization of $43.86 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.82 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.73%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analyst Ratings Changes

Several equities analysts have recently commented on PEG shares. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays lowered their target price 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. BMO Capital Markets raised their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Read Our Latest Report on PEG

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,234 shares of company stock worth $722,037 over the last three months. 0.57% of the stock is currently owned by insiders.

About Public Service Enterprise Group

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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