Assetmark Inc. Grows Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Assetmark Inc. boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 893,950 shares of the utilities provider’s stock after purchasing an additional 38,949 shares during the period. Assetmark Inc.’s holdings in Public Service Enterprise Group were worth $74,609,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JARISLOWSKY FRASER Ltd increased its stake in Public Service Enterprise Group by 107.1% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock valued at $85,572,000 after buying an additional 530,248 shares during the period. Railway Pension Investments Ltd boosted its holdings in shares of Public Service Enterprise Group by 97.5% in the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock valued at $158,390,000 after acquiring an additional 937,100 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Public Service Enterprise Group by 18.2% during the third quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock worth $137,155,000 after acquiring an additional 253,810 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of Public Service Enterprise Group during the third quarter worth about $1,852,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider’s stock valued at $26,262,000 after buying an additional 36,100 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $84.59 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The stock has a market capitalization of $42.22 billion, a P/E ratio of 20.33, a PEG ratio of 2.72 and a beta of 0.59. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The business’s fifty day moving average price is $80.09 and its 200 day moving average price is $82.08.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. UBS Group decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. TD Cowen upped their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.96.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.