Janney Montgomery Scott LLC Buys 2,303 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Janney Montgomery Scott LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,037 shares of the utilities provider’s stock after acquiring an additional 2,303 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Public Service Enterprise Group were worth $4,343,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PEG. Addison Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $31,000. Bruce G. Allen Investments LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $36,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $36,000. Anchor Investment Management LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $37,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $41,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Guggenheim upgraded 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 report on Monday, June 17th. 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 report on Tuesday, March 19th. Morgan Stanley dropped their target price on 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. Bank of America boosted their price target on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Mizuho boosted their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.17.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $76.29 on Thursday. The company has a market capitalization of $38.00 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 3.10 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $76.40. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The firm has a 50 day moving average of $73.73 and a 200 day moving average of $66.50.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion during 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 quarterly revenue was down 26.5% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, June 7th. Public Service Enterprise Group’s payout ratio is currently 66.48%.

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.