Arete Wealth Advisors LLC Has $608,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Arete Wealth Advisors LLC reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,846 shares of the utilities provider’s stock after selling 275 shares during the period. Arete Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $608,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PEG. Old Port Advisors grew its holdings in Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after purchasing an additional 113 shares during the period. Smallwood Wealth Investment Management LLC boosted its position in shares of Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after purchasing an additional 115 shares in the last quarter. First Commonwealth Financial Corp PA grew its holdings in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after buying an additional 123 shares during the period. Cigna Investments Inc. New raised its stake in Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after buying an additional 124 shares during the period. Finally, Great Lakes Retirement Inc. lifted its holdings in Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after acquiring an additional 127 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on PEG shares. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday. Evercore ISI lifted their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective on the stock. Finally, Scotiabank increased their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Public Service Enterprise Group Stock Up 0.5 %

NYSE PEG opened at $85.95 on Friday. The company has a 50 day moving average of $89.43 and a 200-day moving average of $82.23. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. 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 company has a market cap of $42.82 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 3.14 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results 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. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.79%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. This represents a 16.50 % 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, 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 sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,798 shares of company stock worth $1,595,921 over the last 90 days. Insiders own 0.57% of the company’s stock.

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.