Nicolet Advisory Services LLC Purchases New Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Nicolet Advisory Services LLC acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,202 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other institutional investors have also recently added to or reduced their stakes in PEG. Old Port Advisors boosted its holdings in shares of Public Service Enterprise Group by 0.5% in the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after buying an additional 113 shares during the period. Smallwood Wealth Investment Management LLC boosted its stake in Public Service Enterprise Group by 1.3% in the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after acquiring an additional 115 shares during the period. Cigna Investments Inc. New grew its holdings in shares of Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 124 shares during the last quarter. Great Lakes Retirement Inc. raised its position in shares of Public Service Enterprise Group by 0.4% during the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after purchasing an additional 127 shares during the period. Finally, Brighton Jones LLC lifted its holdings in shares of Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company. Morgan Stanley upped their price target on shares of 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. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Evercore ISI upped their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Barclays dropped their price target on shares of 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. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Stock Up 0.1 %

PEG opened at $92.40 on Monday. The stock’s fifty day moving average is $88.38 and its 200-day moving average is $80.73. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $93.00. The company has a market capitalization of $46.04 billion, a PE ratio of 22.70, a P/E/G ratio of 3.39 and a beta of 0.61. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.60%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insider Activity

In related news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 28,739 shares of company stock worth $2,467,753. Insiders own 0.57% of the company’s stock.

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.