JustInvest LLC Acquires 1,397 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

JustInvest LLC raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 22.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,561 shares of the utilities provider’s stock after buying an additional 1,397 shares during the quarter. JustInvest LLC’s holdings in Public Service Enterprise Group were worth $452,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Intersect Capital LLC grew its position in shares of Public Service Enterprise Group by 2.4% in the 2nd quarter. Intersect Capital LLC now owns 6,936 shares of the utilities provider’s stock worth $414,000 after buying an additional 162 shares during the last quarter. Boston Private Wealth LLC raised its stake in Public Service Enterprise Group by 1.6% during the first quarter. Boston Private Wealth LLC now owns 10,346 shares of the utilities provider’s stock valued at $623,000 after buying an additional 163 shares during the last quarter. South Dakota Investment Council raised its stake in Public Service Enterprise Group by 0.9% during the first quarter. South Dakota Investment Council now owns 20,730 shares of the utilities provider’s stock valued at $1,248,000 after buying an additional 181 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Public Service Enterprise Group by 10.9% during the first quarter. Benjamin Edwards Inc. now owns 1,855 shares of the utilities provider’s stock valued at $112,000 after buying an additional 183 shares during the last quarter. Finally, Clark Capital Management Group Inc. raised its stake in Public Service Enterprise Group by 4.8% during the first quarter. Clark Capital Management Group Inc. now owns 3,983 shares of the utilities provider’s stock valued at $240,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 70.24% of the company’s stock.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 4,890 shares of the business’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $62.85, for a total transaction of $307,336.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Rose M. Chernick sold 400 shares of the business’s stock in a transaction dated Tuesday, August 17th. The shares were sold at an average price of $64.71, for a total value of $25,884.00. The disclosure for this sale can be found here. Insiders sold 10,980 shares of company stock valued at $698,831 in the last ninety days. 0.52% of the stock is currently owned by corporate insiders.

PEG has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $74.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, August 26th. KeyCorp lifted their price objective on Public Service Enterprise Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 13th. Finally, Morgan Stanley decreased their price target on Public Service Enterprise Group from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, September 17th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $68.69.

Shares of PEG opened at $61.02 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.71 and a quick ratio of 0.53. Public Service Enterprise Group Incorporated has a one year low of $51.66 and a one year high of $65.33. The firm has a market capitalization of $30.85 billion, a P/E ratio of 20.90, a PEG ratio of 4.99 and a beta of 0.54. The business has a fifty day moving average of $63.04 and a 200 day moving average of $61.70.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 3rd. The utilities provider reported $0.70 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. Public Service Enterprise Group had a return on equity of 11.40% and a net margin of 15.49%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. Public Service Enterprise Group’s revenue was down 8.6% compared to the same quarter last year. Analysts expect that Public Service Enterprise Group Incorporated will post 3.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 8th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, September 7th. Public Service Enterprise Group’s payout ratio is currently 59.48%.

About Public Service Enterprise Group

Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

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

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