Bokf Na Raises Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bokf Na grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 145,457 shares of the utilities provider’s stock after purchasing an additional 4,943 shares during the period. Bokf Na’s holdings in Public Service Enterprise Group were worth $9,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Addison Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth $31,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth $36,000. Salomon & Ludwin LLC raised its stake in shares of Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after buying an additional 560 shares during the last quarter. PFS Partners LLC raised its stake in shares of Public Service Enterprise Group by 90.9% during the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock worth $42,000 after buying an additional 300 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth $45,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley cut their price target on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Monday, June 17th. Bank of America boosted their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Evercore ISI boosted their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Barclays boosted their target price on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.17.

Public Service Enterprise Group Trading Up 2.4 %

Shares of NYSE:PEG traded up $1.77 during trading on Friday, reaching $76.01. 2,624,648 shares of the stock were exchanged, compared to its average volume of 2,572,790. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $77.46. The firm has a market cap of $37.86 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The firm’s 50-day moving average price is $74.31 and its 200 day moving average price is $67.66.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. The firm’s revenue for the quarter was down 26.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

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.