Transcend Capital Advisors LLC Reduces Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Transcend Capital Advisors LLC reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,888 shares of the utilities provider’s stock after selling 305 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $950,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cullen Investment Group LTD. acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $696,000. Abich Financial Wealth Management LLC lifted its holdings in Public Service Enterprise Group by 49.6% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,907 shares of the utilities provider’s stock worth $127,000 after buying an additional 632 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Public Service Enterprise Group by 50.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,283 shares of the utilities provider’s stock worth $89,000 after buying an additional 432 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Public Service Enterprise Group by 4.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,989 shares of the utilities provider’s stock worth $7,639,000 after buying an additional 4,505 shares in the last quarter. Finally, Peninsula Wealth LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $217,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEG. Royal Bank of Canada raised their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Bank of America lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Mizuho lifted their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, Scotiabank decreased their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $75.17.

Public Service Enterprise Group Stock Down 0.8 %

Shares of PEG stock traded down $0.66 on Monday, hitting $78.17. The stock had a trading volume of 1,071,889 shares, compared to its average volume of 2,851,680. The firm has a market capitalization of $38.94 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 2.97 and a beta of 0.59. The stock’s 50 day moving average is $74.72 and its 200-day moving average is $68.37. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.62 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS 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 company 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 company earned $0.70 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

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 issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.07%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

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.