Caprock Group LLC Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Caprock Group LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,178 shares of the utilities provider’s stock, valued at approximately $308,000.

Several other large investors also recently added to or reduced their stakes in the business. Bryn Mawr Capital Management LLC grew its stake in Public Service Enterprise Group by 0.5% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock worth $1,905,000 after buying an additional 135 shares in the last quarter. Crestwood Advisors Group LLC raised its position in Public Service Enterprise Group by 4.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after purchasing an additional 153 shares during the last quarter. Evergreen Wealth Solutions LLC raised its holdings in shares of Public Service Enterprise Group by 1.7% during the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after acquiring an additional 159 shares in the last quarter. KCM Investment Advisors LLC lifted its position in shares of Public Service Enterprise Group by 0.3% in the 2nd quarter. KCM Investment Advisors LLC now owns 67,327 shares of the utilities provider’s stock worth $4,962,000 after purchasing an additional 180 shares during the period. Finally, PDS Planning Inc lifted its holdings in Public Service Enterprise Group by 4.2% in the first quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock worth $303,000 after buying an additional 181 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG stock opened at $83.31 on Friday. The firm has a market capitalization of $41.50 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 2.91 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $83.45. 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 company has a fifty day simple moving average of $78.61 and a two-hundred day simple moving average of $72.60.

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). 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 quarter last year, the firm earned $0.70 EPS. The company’s revenue was up .1% on a year-over-year basis. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share 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. Investors of record on Monday, September 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.88%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Analysts Set New Price Targets

A number of analysts have recently commented on PEG shares. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. 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 research note on Monday, June 17th. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Barclays boosted their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

Insider Activity

In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,068 shares of company stock valued at $2,406,965. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group 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.