First Western Trust Bank Invests $211,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Western Trust Bank bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,162 shares of the utilities provider’s stock, valued at approximately $211,000.

Several other hedge funds also recently bought and sold shares of PEG. Norges Bank bought a new position in Public Service Enterprise Group during the fourth quarter valued at $215,074,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Public Service Enterprise Group by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,826,477 shares of the utilities provider’s stock worth $172,839,000 after purchasing an additional 30,469 shares during the period. Cohen & Steers Inc. grew its stake in shares of Public Service Enterprise Group by 23.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock valued at $146,132,000 after buying an additional 455,693 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Public Service Enterprise Group by 12.5% in the fourth quarter. Franklin Resources Inc. now owns 2,331,709 shares of the utilities provider’s stock worth $142,584,000 after buying an additional 259,694 shares during the period. Finally, Reaves W H & Co. Inc. lifted its stake in shares of Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after acquiring an additional 667,773 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $0.02 during midday trading on Thursday, hitting $79.75. The stock had a trading volume of 2,631,254 shares, compared to its average volume of 2,847,405. The stock has a 50 day moving average price of $74.52 and a two-hundred day moving average price of $68.03. The company has a market capitalization of $39.72 billion, a PE ratio of 22.10, a P/E/G ratio of 3.08 and a beta of 0.59. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $81.00.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.78%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Analyst Upgrades and Downgrades

PEG has been the subject of several research reports. Bank of America upped their price target on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Monday, June 17th. Royal Bank of Canada raised their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Mizuho increased their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $74.17.

Public Service Enterprise Group Profile

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.