Brighton Jones LLC Has $548,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Brighton Jones LLC boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,430 shares of the utilities provider’s stock after buying an additional 131 shares during the period. Brighton Jones LLC’s holdings in Public Service Enterprise Group were worth $548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEG. Hsbc Holdings PLC boosted its position in shares of Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after acquiring an additional 732,443 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of Public Service Enterprise Group by 23.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock valued at $146,132,000 after purchasing an additional 455,693 shares during the period. Raymond James & Associates raised its holdings in shares of Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after buying an additional 1,674,827 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Public Service Enterprise Group by 10.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock worth $127,809,000 after buying an additional 163,333 shares during the period. Finally, Reaves W H & Co. Inc. boosted its stake in Public Service Enterprise Group by 73.9% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after buying an additional 667,773 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 4.0 %

Shares of PEG opened at $86.76 on Friday. The stock’s fifty day simple moving average is $79.70 and its 200-day simple moving average is $73.61. The firm has a market capitalization of $43.21 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $86.83. 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 (NYSE:PEG) last announced its quarterly earnings data 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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

Analysts Set New Price Targets

PEG has been the subject of several recent analyst reports. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley lifted 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 report on Friday, August 23rd. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Monday, June 17th. Finally, Bank of America increased their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.92.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was 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 directly owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated 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 $12,014,095.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,068 shares of company stock worth $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.