Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,286 shares of the utilities provider’s stock after purchasing an additional 1,112 shares during the period. Jacobi Capital Management LLC’s holdings in Public Service Enterprise Group were worth $887,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PEG. Addison Advisors LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $31,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter valued at approximately $36,000. Salomon & Ludwin LLC lifted its position in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares during the period. PFS Partners LLC grew its stake in shares of Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Trading Up 1.6 %

NYSE:PEG traded up $1.18 during mid-day trading on Monday, reaching $75.82. The company’s stock had a trading volume of 1,669,302 shares, compared to its average volume of 2,823,203. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. The stock has a market cap of $37.76 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.95 and a beta of 0.59. The company’s fifty day simple moving average is $74.16 and its two-hundred day simple moving average is $67.22. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $77.46.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the business posted $1.39 earnings per share. Public Service Enterprise Group’s revenue was down 26.5% on a year-over-year basis. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $69.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada lifted their target price on shares of 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. Bank of America increased their price target on shares of 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. Mizuho upped their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Morgan Stanley cut their price target on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.17.

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.