Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 265.2% in the second quarter, HoldingsChannel.com reports. The firm owned 27,620 shares of the utilities provider’s stock after buying an additional 20,056 shares during the quarter. SteelPeak Wealth LLC’s holdings in Public Service Enterprise Group were worth $2,036,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Addison Advisors LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at $31,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $36,000. Salomon & Ludwin LLC raised its holdings in shares of Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares during the last quarter. PFS Partners LLC lifted its holdings in Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in Public Service Enterprise Group during the first quarter worth approximately $45,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PEG. Bank of America raised their price target on 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. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Barclays increased their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Morgan Stanley lowered 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 report on Monday, June 24th. Finally, Royal Bank of Canada raised their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.17.

Public Service Enterprise Group Stock Down 0.1 %

NYSE:PEG traded down $0.09 during trading hours on Thursday, hitting $80.42. The stock had a trading volume of 2,153,784 shares, compared to its average volume of 2,858,005. The business has a 50 day simple moving average of $75.50 and a two-hundred day simple moving average of $69.50. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $81.89. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The company has a market cap of $40.06 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.97 and a beta of 0.59.

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 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 business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 earnings per share. Analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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 dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.98%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Public Service Enterprise Group Company 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.