4,868 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,868 shares of the utilities provider’s stock, valued at approximately $359,000.

Other large investors have also recently bought and sold shares of the company. Jennison Associates LLC boosted its position in shares of Public Service Enterprise Group by 79.9% during the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after purchasing an additional 397,606 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Public Service Enterprise Group by 16.6% during the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock worth $23,047,000 after buying an additional 53,577 shares in the last quarter. Reaves W H & Co. Inc. grew its position in shares of Public Service Enterprise Group by 4.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 904,228 shares of the utilities provider’s stock worth $55,294,000 after buying an additional 36,745 shares during the period. QRG Capital Management Inc. increased its stake in shares of Public Service Enterprise Group by 28.0% in the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after acquiring an additional 15,505 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 8,723 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.9 %

PEG traded up $0.76 during mid-day trading on Wednesday, reaching $81.11. 1,714,551 shares of the stock were exchanged, compared to its average volume of 2,836,442. 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 debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The stock has a market capitalization of $40.40 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 2.99 and a beta of 0.59. The company has a 50 day moving average price of $76.22 and a two-hundred day moving average price of $70.28.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results 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). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Insider Activity at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PEG has been the subject of a number of research reports. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, June 17th. Barclays boosted their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Scotiabank upped their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Mizuho raised their price objective on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Bank of America upped their target price on 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.08.

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.