Rafferty Asset Management LLC Buys 1,535 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Rafferty Asset Management LLC boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,820 shares of the utilities provider’s stock after buying an additional 1,535 shares during the quarter. Rafferty Asset Management LLC’s holdings in Public Service Enterprise Group were worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. Allred Capital Management LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter valued at approximately $27,000. Bank of Nova Scotia raised its holdings in Public Service Enterprise Group by 54.0% in the first quarter. Bank of Nova Scotia now owns 134,069 shares of the utilities provider’s stock worth $8,072,000 after purchasing an additional 47,007 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Public Service Enterprise Group by 4.8% during the first quarter. Fifth Third Bancorp now owns 28,567 shares of the utilities provider’s stock valued at $1,720,000 after acquiring an additional 1,305 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Public Service Enterprise Group by 9.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 33,248 shares of the utilities provider’s stock valued at $2,001,000 after acquiring an additional 2,928 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 49.4% during the first quarter. Prime Capital Investment Advisors LLC now owns 1,267 shares of the utilities provider’s stock valued at $76,000 after acquiring an additional 419 shares in the last quarter. 70.24% of the stock is owned by institutional investors and hedge funds.

PEG has been the topic of several research reports. KeyCorp raised their target price on Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, August 13th. Morgan Stanley lowered their price objective on Public Service Enterprise Group from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, September 17th. Wells Fargo & Company lifted their target price 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. Finally, Barclays lifted their price objective on Public Service Enterprise Group from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $67.39.

Shares of PEG stock opened at $61.70 on Wednesday. The company has a market capitalization of $31.19 billion, a P/E ratio of 21.13, a P/E/G ratio of 4.99 and a beta of 0.54. The business’s 50 day moving average is $63.03 and its two-hundred day moving average is $61.71. The company has a current ratio of 0.71, a quick ratio of 0.53 and a debt-to-equity ratio of 0.97. Public Service Enterprise Group Incorporated has a 12-month low of $51.54 and a 12-month high of $65.33.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 3rd. The utilities provider reported $0.70 earnings per share for the quarter, meeting the 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 business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the business posted $0.79 earnings per share. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.55 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 8th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, September 7th. This represents a $2.04 annualized dividend and a yield of 3.31%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.48%.

In other Public Service Enterprise Group news, VP Rose M. Chernick sold 400 shares of Public Service Enterprise Group stock in a transaction dated Friday, September 17th. The stock was sold at an average price of $62.95, for a total transaction of $25,180.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ralph A. Larossa sold 4,890 shares of Public Service Enterprise Group stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $62.85, for a total value of $307,336.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,980 shares of company stock valued at $698,831. 0.52% of the stock is owned by insiders.

Public Service Enterprise Group Profile

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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