Mystic Asset Management Inc. Has $350,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mystic Asset Management Inc. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 65.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,144 shares of the utilities provider’s stock after purchasing an additional 1,644 shares during the period. Mystic Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $350,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PEG. Center for Financial Planning Inc. increased its stake in Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 120 shares during the period. Spire Wealth Management increased its stake in Public Service Enterprise Group by 2.4% during the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after acquiring an additional 121 shares during the period. First Commonwealth Financial Corp PA increased its stake in Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after acquiring an additional 123 shares during the period. United Asset Strategies Inc. increased its stake in Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 127 shares during the period. Finally, Fifth Third Bancorp increased its stake in Public Service Enterprise Group by 0.4% during the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of several research reports. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Guggenheim reiterated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Bank of America lowered their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company lowered their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Down 0.1 %

Shares of PEG opened at $82.16 on Wednesday. Public Service Enterprise Group Incorporated has a 52 week low of $63.54 and a 52 week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market capitalization of $40.96 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.78 and a beta of 0.60. The business’s fifty day moving average price is $83.61 and its two-hundred day moving average price is $86.04.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.54 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

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.