abrdn plc Increases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

abrdn plc raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,803,046 shares of the utilities provider's stock after acquiring an additional 10,860 shares during the period. abrdn plc owned about 0.36% of Public Service Enterprise Group worth $151,546,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PEG. Foundations Investment Advisors LLC increased its holdings in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock worth $7,403,000 after purchasing an additional 18,627 shares in the last quarter. DRW Securities LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth about $8,244,000. Cullen Investment Group LTD. increased its stake in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock valued at $2,270,000 after buying an additional 10,610 shares during the period. Arvest Bank Trust Division bought a new position in Public Service Enterprise Group in the 3rd quarter valued at approximately $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $2,565,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analyst Weigh In

PEG has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. UBS Group increased their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Guggenheim reaffirmed a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays cut Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a research note on Monday, October 21st. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.83.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 5,900 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares of the company's stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,612 shares of company stock valued at $836,549. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Down 0.4 %

Shares of PEG stock traded down $0.32 during trading hours on Friday, hitting $83.61. 1,544,159 shares of the company were exchanged, compared to its average volume of 2,231,214. 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 Incorporated has a fifty-two week low of $57.40 and a fifty-two week high of $95.22. The company has a 50 day simple moving average of $86.15 and a two-hundred day simple moving average of $85.35. The firm has a market cap of $41.66 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.67 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm 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%. The business's revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group's payout ratio is 58.97%.

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.