Gateway Investment Advisers LLC Has $206,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Gateway Investment Advisers LLC decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 70.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,791 shares of the utilities provider’s stock after selling 6,615 shares during the period. Gateway Investment Advisers LLC’s holdings in Public Service Enterprise Group were worth $206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PEG. Norges Bank acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $215,074,000. Reaves W H & Co. Inc. grew its holdings in shares of Public Service Enterprise Group by 73.9% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after buying an additional 667,773 shares during the period. Cohen & Steers Inc. grew its holdings in shares of Public Service Enterprise Group by 23.6% in the 4th 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 period. Zurich Insurance Group Ltd FI acquired a new position in shares of Public Service Enterprise Group in the 1st quarter valued at $28,132,000. Finally, Yaupon Capital Management LP acquired a new position in shares of Public Service Enterprise Group in the 1st quarter valued at $27,425,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PEG shares. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley reduced their target price on shares of 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. Bank of America upped their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Scotiabank reduced their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.17.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded up $0.50 on Friday, reaching $79.86. The stock had a trading volume of 2,090,427 shares, compared to its average volume of 3,041,479. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The firm’s 50-day moving average is $75.15 and its two-hundred day moving average is $69.01. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 2.92 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) 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 the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS 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. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio is currently 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.