Raymond James Financial Services Advisors Inc. Buys 1,426 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Raymond James Financial Services Advisors Inc. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 166,261 shares of the utilities provider’s stock after acquiring an additional 1,426 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Public Service Enterprise Group were worth $11,103,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Operose Advisors LLC boosted its position in shares of Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after buying an additional 435 shares during the period. Addison Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $31,000. CNB Bank purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $34,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $36,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $36,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Up 0.6 %

Shares of PEG stock traded up $0.43 during trading hours on Friday, reaching $70.45. 2,393,470 shares of the company’s stock were exchanged, compared to its average volume of 2,748,077. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 1.19. The stock’s 50 day moving average is $65.56 and its 200-day moving average is $62.60. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $70.54. The company has a market cap of $35.09 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 3.06 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company earned $1.39 earnings per share. Public Service Enterprise Group’s revenue was down 26.5% on a year-over-year basis. Analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,322 shares of company stock valued at $607,376. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on PEG. Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a report on Monday, January 22nd. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Morgan Stanley restated an “overweight” rating and set a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. BMO Capital Markets lowered their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.15.

About Public Service Enterprise Group

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.