Kowal Investment Group LLC Purchases 160 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kowal Investment Group LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,981 shares of the utilities provider’s stock after buying an additional 160 shares during the quarter. Kowal Investment Group LLC’s holdings in Public Service Enterprise Group were worth $441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the first quarter valued at about $36,000. Salomon & Ludwin LLC grew its position 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 valued at $39,000 after buying an additional 560 shares during the period. Finally, Scarborough Advisors LLC bought a new position in Public Service Enterprise Group during the fourth quarter valued at about $41,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Up 4.0 %

Public Service Enterprise Group stock opened at $86.76 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $86.83. The company has a market capitalization of $43.21 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. The stock has a 50-day moving average price of $79.70 and a 200 day moving average price of $73.61.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates 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 was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business 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. This represents a $2.40 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Wall Street Analysts Forecast Growth

PEG has been the topic of several recent research reports. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Monday, June 17th. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Scotiabank increased their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.92.

Insiders Place Their Bets

In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The stock was 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 in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred 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 owns 148,892 shares in the company, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,068 shares of company stock valued at $2,406,965. 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.