LVW Advisors LLC Has $538,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

LVW Advisors LLC increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,049 shares of the utilities provider’s stock after purchasing an additional 1,739 shares during the period. LVW Advisors LLC’s holdings in Public Service Enterprise Group were worth $538,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PEG. Vanguard Group Inc. grew its stake in shares of Public Service Enterprise Group by 13.0% during the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after purchasing an additional 7,103,657 shares during the period. Norges Bank acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $215,074,000. JPMorgan Chase & Co. grew its stake in shares of Public Service Enterprise Group by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after purchasing an additional 726,613 shares during the period. Cohen & Steers Inc. grew its stake in shares of Public Service Enterprise Group by 23.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after purchasing an additional 455,693 shares during the period. Finally, Royal Bank of Canada grew its stake in Public Service Enterprise Group by 72.7% in the third quarter. Royal Bank of Canada now owns 963,679 shares of the utilities provider’s stock valued at $54,845,000 after acquiring an additional 405,533 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

PEG opened at $73.63 on Tuesday. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $75.82. The firm has a market capitalization of $36.67 billion, a PE ratio of 20.40, a PEG ratio of 3.06 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The business’s 50-day simple moving average is $72.69 and its 200 day simple moving average is $65.80.

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). The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business’s revenue was down 26.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.26%. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PEG. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Guggenheim raised 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. Evercore ISI boosted their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Mizuho boosted 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, Barclays boosted their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.50.

Insider Buying and Selling 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 that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

About Public Service Enterprise Group

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.