Marcum Wealth LLC Buys Shares of 3,734 Public Service Enterprise Group Incorporated (NYSE:PEG)

Marcum Wealth LLC acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 3,734 shares of the utilities provider’s stock, valued at approximately $275,000.

Other hedge funds have also made changes to their positions in the company. Addison Advisors LLC acquired a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $31,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group in the first quarter valued at about $36,000. Salomon & Ludwin LLC lifted its holdings in Public Service Enterprise Group by 1,866.7% during 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 in the last quarter. PFS Partners LLC increased its position in shares of Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 300 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 1.9 %

Shares of NYSE:PEG traded down $1.53 during mid-day trading on Monday, hitting $77.30. 2,944,618 shares of the company traded hands, compared to its average volume of 2,864,248. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 1.16. The stock has a 50-day moving average price of $74.72 and a two-hundred day moving average price of $68.37. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $81.89. The stock has a market cap of $38.50 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.97 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last issued 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 return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the firm posted $0.70 earnings per share. Public Service Enterprise Group’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PEG shares. Scotiabank dropped their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Bank of America upped their target price on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Royal Bank of Canada raised their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Monday, June 17th. Finally, Mizuho raised 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 report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $75.17.

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.