Varma Mutual Pension Insurance Co Grows Stake in Public Service Enterprise Group Incorporated $PEG

Varma Mutual Pension Insurance Co boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 128,337 shares of the utilities provider’s stock after purchasing an additional 10,300 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Public Service Enterprise Group were worth $10,711,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. TFB Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 4.8% during the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock valued at $220,000 after buying an additional 119 shares during the last quarter. HM Payson & Co. lifted its position in Public Service Enterprise Group by 3.3% in the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after acquiring an additional 120 shares in the last quarter. Transcend Capital Advisors LLC boosted its stake in Public Service Enterprise Group by 2.6% during the 3rd quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after purchasing an additional 125 shares during the last quarter. Sage Private Wealth Group LLC increased its holdings in shares of Public Service Enterprise Group by 4.9% in the 3rd quarter. Sage Private Wealth Group LLC now owns 2,831 shares of the utilities provider’s stock worth $236,000 after purchasing an additional 133 shares in the last quarter. Finally, Sowell Financial Services LLC raised its stake in shares of Public Service Enterprise Group by 3.1% in the third quarter. Sowell Financial Services LLC now owns 4,525 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 134 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

PEG opened at $86.12 on Friday. The company’s 50 day moving average is $80.22 and its 200 day moving average is $82.07. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The company has a market cap of $42.99 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.73 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $91.25.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group lowered their price target on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. BTIG Research started coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target on the stock. Barclays decreased their price objective on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Finally, TD Cowen raised their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $90.96.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.