Mather Group LLC. Has $336,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mather Group LLC. raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 115.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,553 shares of the utilities provider’s stock after acquiring an additional 2,440 shares during the quarter. Mather Group LLC.’s holdings in Public Service Enterprise Group were worth $336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Evergreen Wealth Solutions LLC increased its position in shares of Public Service Enterprise Group by 1.7% in the 1st quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after buying an additional 159 shares in the last quarter. PDS Planning Inc increased its stake in Public Service Enterprise Group by 4.2% during the 1st quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock worth $303,000 after purchasing an additional 181 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in Public Service Enterprise Group by 1.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 17,483 shares of the utilities provider’s stock worth $1,167,000 after buying an additional 183 shares during the period. United Community Bank raised its holdings in Public Service Enterprise Group by 12.9% during the 1st quarter. United Community Bank now owns 1,616 shares of the utilities provider’s stock worth $108,000 after buying an additional 185 shares during the period. Finally, Signaturefd LLC lifted its stake in Public Service Enterprise Group by 2.3% in the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock valued at $519,000 after buying an additional 187 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded up $0.91 on Wednesday, hitting $79.33. The company had a trading volume of 596,701 shares, compared to its average volume of 2,854,299. The stock has a 50 day moving average price of $74.85 and a 200 day moving average price of $68.64. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 1.16. The stock has a market cap of $39.51 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 2.97 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company 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 firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. Analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PEG shares. Barclays raised their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Scotiabank dropped their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Mizuho lifted their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Bank of America raised their price objective on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.17.

Public Service Enterprise Group Company 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.