Crestwood Advisors Group LLC Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Crestwood Advisors Group LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,853 shares of the utilities provider’s stock after buying an additional 153 shares during the period. Crestwood Advisors Group LLC’s holdings in Public Service Enterprise Group were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. TD Asset Management Inc grew its position in shares of Public Service Enterprise Group by 16.6% during the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock valued at $23,047,000 after purchasing an additional 53,577 shares in the last quarter. Reaves W H & Co. Inc. grew its position in shares of Public Service Enterprise Group by 4.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 904,228 shares of the utilities provider’s stock valued at $55,294,000 after purchasing an additional 36,745 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after purchasing an additional 15,505 shares in the last quarter. CWM LLC grew its position in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after purchasing an additional 8,723 shares in the last quarter. Finally, Czech National Bank grew its position in shares of Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after purchasing an additional 7,235 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Royal Bank of Canada lifted their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Scotiabank lifted 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 report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. Finally, Bank of America lifted their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $80.23 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $39.96 billion, a PE ratio of 22.22, a P/E/G ratio of 3.00 and a beta of 0.59. The firm has a fifty day simple moving average of $77.54 and a two-hundred day simple moving average of $71.74. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS 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. Shareholders of record on Monday, September 9th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

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.