Murphy Capital Management Inc. Purchases 699 Shares of Public Service Enterprise Group Inc. (NYSE:PEG)

Murphy Capital Management Inc. grew its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 1.8% in the 3rd quarter, Holdings Channel reports. The firm owned 40,209 shares of the utilities provider’s stock after acquiring an additional 699 shares during the quarter. Murphy Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $2,496,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PEG. Envestnet Asset Management Inc. raised its holdings in Public Service Enterprise Group by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 79,794 shares of the utilities provider’s stock worth $4,741,000 after purchasing an additional 3,005 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Public Service Enterprise Group by 374.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,716 shares of the utilities provider’s stock valued at $102,000 after acquiring an additional 1,354 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $428,000. Amundi Pioneer Asset Management Inc. increased its stake in shares of Public Service Enterprise Group by 12.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,737,128 shares of the utilities provider’s stock valued at $103,202,000 after acquiring an additional 197,098 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its stake in shares of Public Service Enterprise Group by 3.0% in the 1st quarter. ClariVest Asset Management LLC now owns 10,062 shares of the utilities provider’s stock valued at $597,000 after acquiring an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.

PEG stock traded up $0.82 during midday trading on Friday, reaching $62.33. 71,800 shares of the company’s stock traded hands, compared to its average volume of 2,038,417. The company has a market cap of $30.93 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 6.28 and a beta of 0.30. The firm’s fifty day moving average price is $60.97 and its 200-day moving average price is $59.77. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 0.99. Public Service Enterprise Group Inc. has a 52 week low of $49.22 and a 52 week high of $62.60.



Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.23 billion. Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. During the same quarter last year, the firm posted $0.64 EPS. Analysts forecast that Public Service Enterprise Group Inc. will post 3.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, September 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.02%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.26%.

Several analysts have recently weighed in on PEG shares. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Bank of America lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Friday, July 19th. Mizuho lifted their price objective on shares of Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada lifted their price objective on shares of Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “sector perform” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Public Service Enterprise Group presently has an average rating of “Buy” and a consensus target price of $63.00.

In other Public Service Enterprise Group news, VP Daniel J. Cregg sold 625 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $57.33, for a total transaction of $35,831.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Ralph A. Larossa sold 1,650 shares of Public Service Enterprise Group stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $61.66, for a total transaction of $101,739.00. Following the transaction, the chief operating officer now directly owns 78,928 shares in the company, valued at $4,866,700.48. The disclosure for this sale can be found here. Insiders have sold a total of 61,408 shares of company stock worth $3,535,381 over the last ninety days. Insiders own 0.51% of the company’s stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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