EverSource Wealth Advisors LLC Has $89,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

EverSource Wealth Advisors LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 50.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,283 shares of the utilities provider’s stock after acquiring an additional 432 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $89,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Addison Advisors LLC bought a new position in Public Service Enterprise Group in the fourth quarter valued at about $31,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $36,000. Salomon & Ludwin LLC increased its stake in shares of Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $41,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of Public Service Enterprise Group by 39.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock valued at $42,000 after buying an additional 195 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

PEG stock traded up $1.39 during midday trading on Tuesday, hitting $78.69. The company’s stock had a trading volume of 1,558,639 shares, compared to its average volume of 2,855,544. The stock’s 50-day moving average price is $74.77 and its 200 day moving average price is $68.50. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $81.89. The stock has a market cap of $39.19 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.97 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 earnings per share. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.05%. Public Service Enterprise Group’s payout ratio is 66.48%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Monday, June 17th. Royal Bank of Canada raised their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Scotiabank decreased their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Morgan Stanley decreased their target price on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Finally, Barclays increased their price target on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $75.17.

About Public Service Enterprise Group

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.