Sequoia Financial Advisors LLC Increases Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sequoia Financial Advisors LLC grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 74.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,271 shares of the utilities provider’s stock after purchasing an additional 8,203 shares during the period. Sequoia Financial Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,420,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PEG. Norges Bank bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $215,074,000. Reaves W H & Co. Inc. lifted 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 worth $104,978,000 after buying an additional 667,773 shares during the period. Cohen & Steers Inc. increased its position in Public Service Enterprise Group by 23.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock valued at $146,132,000 after purchasing an additional 455,693 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Public Service Enterprise Group in the first quarter worth approximately $28,132,000. Finally, Yaupon Capital Management LP bought a new stake in Public Service Enterprise Group during the first quarter valued at about $27,425,000. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Barclays raised their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Mizuho boosted their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Scotiabank decreased their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $75.17.

Public Service Enterprise Group Stock Down 0.7 %

Shares of NYSE PEG traded down $0.56 during midday trading on Tuesday, hitting $79.95. The company’s stock had a trading volume of 629,113 shares, compared to its average volume of 2,848,536. The firm has a market capitalization of $39.83 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 2.92 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $81.89. The business’s fifty day simple moving average is $75.27 and its two-hundred day simple moving average is $69.26.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 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 analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.60 dividend. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 3.00%. 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.