Ensign Peak Advisors Inc Purchases 2,510 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Ensign Peak Advisors Inc grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,659 shares of the utilities provider’s stock after buying an additional 2,510 shares during the period. Ensign Peak Advisors Inc’s holdings in Public Service Enterprise Group were worth $9,482,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Trail Advisors LLC grew its holdings in Public Service Enterprise Group by 38.0% in the second quarter. Summit Trail Advisors LLC now owns 22,969 shares of the utilities provider’s stock worth $1,693,000 after purchasing an additional 6,319 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Public Service Enterprise Group by 9.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,181,598 shares of the utilities provider’s stock worth $87,083,000 after purchasing an additional 104,244 shares in the last quarter. Sound Shore Management Inc. CT purchased a new position in Public Service Enterprise Group during the 2nd quarter worth $71,298,000. Sei Investments Co. increased its position in Public Service Enterprise Group by 26.9% during the 2nd quarter. Sei Investments Co. now owns 308,490 shares of the utilities provider’s stock valued at $22,736,000 after buying an additional 65,338 shares in the last quarter. Finally, AE Wealth Management LLC raised its stake in Public Service Enterprise Group by 1.5% in the second quarter. AE Wealth Management LLC now owns 229,481 shares of the utilities provider’s stock valued at $16,913,000 after buying an additional 3,321 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock valued at $2,406,965 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 0.2 %

Shares of PEG stock opened at $87.73 on Wednesday. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $88.86. 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’s fifty day moving average is $80.23 and its two-hundred day moving average is $73.99. The firm has a market capitalization of $43.70 billion, a P/E ratio of 24.30, a PEG ratio of 3.09 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted 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 business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BMO Capital Markets upped 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 report on Friday, August 2nd. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada raised their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Barclays boosted their price target 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.46.

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.