Stephens Inc. AR Buys 256 Shares of Public Service Enterprise Group Inc. (NYSE:PEG)

Stephens Inc. AR grew its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,431 shares of the utilities provider’s stock after acquiring an additional 256 shares during the period. Stephens Inc. AR’s holdings in Public Service Enterprise Group were worth $555,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PEG. DekaBank Deutsche Girozentrale grew its holdings in Public Service Enterprise Group by 57.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 440,541 shares of the utilities provider’s stock worth $25,985,000 after purchasing an additional 160,503 shares during the last quarter. Advisory Services Network LLC grew its holdings in Public Service Enterprise Group by 4.8% in the second quarter. Advisory Services Network LLC now owns 24,959 shares of the utilities provider’s stock worth $1,468,000 after purchasing an additional 1,147 shares during the last quarter. Coastal Investment Advisors Inc. grew its holdings in Public Service Enterprise Group by 1,996.1% in the second quarter. Coastal Investment Advisors Inc. now owns 13,268 shares of the utilities provider’s stock worth $780,000 after purchasing an additional 12,635 shares during the last quarter. ELCO Management Co. LLC grew its holdings in Public Service Enterprise Group by 2.7% in the second quarter. ELCO Management Co. LLC now owns 7,498 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 198 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in Public Service Enterprise Group by 1.5% in the second quarter. Wedge Capital Management L L P NC now owns 209,245 shares of the utilities provider’s stock worth $12,308,000 after purchasing an additional 3,074 shares during the last quarter. 68.74% of the stock is owned by hedge funds and other institutional investors.

PEG has been the topic of several analyst reports. UBS Group set a $67.00 price target on shares of Public Service Enterprise Group and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, August 13th. They issued an “overweight” rating and a $63.00 price target on the stock. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. KeyCorp started coverage on shares of Public Service Enterprise Group in a report on Tuesday, June 4th. They issued a “sector weight” rating and a $59.40 price target on the stock. Finally, Bank of America lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a report on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.46.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,650 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $57.15, for a total value of $94,297.50. Following the completion of the transaction, the chief operating officer now owns 81,768 shares in the company, valued at $4,673,041.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $58.78, for a total transaction of $3,080,483.46. Following the completion of the transaction, the chairman now owns 419,818 shares of the company’s stock, valued at approximately $24,676,902.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,046 shares of company stock worth $9,529,482. 0.51% of the stock is owned by corporate insiders.

Shares of PEG opened at $58.87 on Thursday. The firm has a market capitalization of $29.61 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 7.99 and a beta of 0.33. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.79 and a quick ratio of 0.59. Public Service Enterprise Group Inc. has a 1-year low of $49.22 and a 1-year high of $61.63. The company’s fifty day moving average price is $58.86 and its 200-day moving average price is $58.94.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, research analysts anticipate that Public Service Enterprise Group Inc. will post 3.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.19%. The ex-dividend date is Friday, September 6th. Public Service Enterprise Group’s payout ratio is 60.26%.

Public Service Enterprise Group Company Profile

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 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 to customers.

Featured Story: Quick Ratio

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

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