First National Bank of Mount Dora Trust Investment Services Boosts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)


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First National Bank of Mount Dora Trust Investment Services grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,994 shares of the utilities provider’s stock after buying an additional 11,364 shares during the quarter. Public Service Enterprise Group accounts for 1.6% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 27th largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Public Service Enterprise Group were worth $4,636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SOA Wealth Advisors LLC. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $25,000. Dimension Capital Management LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $26,000. Valley Brook Capital Group acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $29,000. Klaas Financial Asset Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $30,000. Finally, Robbins Farley LLC purchased a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $36,000. 69.55% of the stock is currently owned by institutional investors.

NYSE:PEG remained flat at $$61.23 during trading hours on Thursday. 1,976 shares of the company’s stock traded hands, compared to its average volume of 2,143,936. The company has a market capitalization of $30.93 billion, a P/E ratio of 16.24, a PEG ratio of 6.10 and a beta of 0.49. The firm has a fifty day simple moving average of $57.78 and a 200 day simple moving average of $57.78. Public Service Enterprise Group Incorporated has a one year low of $43.87 and a one year high of $62.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.59 and a current ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Thursday, February 25th. The utilities provider reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. Public Service Enterprise Group had a net margin of 19.74% and a return on equity of 11.30%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.42 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Tuesday, March 9th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Monday, March 8th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.49. Public Service Enterprise Group’s dividend payout ratio (DPR) is 62.20%.

Several research firms have recently issued reports on PEG. The Goldman Sachs Group raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Thursday, January 14th. Mizuho reduced their price target on shares of Public Service Enterprise Group from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Friday, January 8th. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, March 25th. Finally, KeyCorp cut their price objective on Public Service Enterprise Group from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, January 12th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $64.10.

About Public Service Enterprise Group

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 PSEG 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.

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

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