Caprock Group LLC Acquires Shares of 4,178 Public Service Enterprise Group Incorporated (NYSE:PEG)

Caprock Group LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,178 shares of the utilities provider’s stock, valued at approximately $308,000.

Other institutional investors have also recently modified their holdings of the company. Bryn Mawr Capital Management LLC grew its position in shares of Public Service Enterprise Group by 0.5% in the second quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock valued at $1,905,000 after purchasing an additional 135 shares during the period. Crestwood Advisors Group LLC increased its holdings in shares of Public Service Enterprise Group by 4.1% in the second quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after purchasing an additional 153 shares during the last quarter. Evergreen Wealth Solutions LLC grew its holdings in shares of Public Service Enterprise Group by 1.7% in the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after purchasing an additional 159 shares during the period. KCM Investment Advisors LLC grew its stake in shares of Public Service Enterprise Group by 0.3% in the 2nd quarter. KCM Investment Advisors LLC now owns 67,327 shares of the utilities provider’s stock valued at $4,962,000 after buying an additional 180 shares during the period. Finally, PDS Planning Inc grew its position in Public Service Enterprise Group by 4.2% in the first quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock worth $303,000 after acquiring an additional 181 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The disclosure for this sale can be found here. Insiders sold a total of 30,068 shares of company stock valued at $2,406,965 in the last ninety days. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 1.4 %

PEG opened at $83.31 on Friday. The company has a market capitalization of $41.50 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.91 and a beta of 0.60. The business has a 50-day moving average of $78.61 and a 200-day moving average of $72.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $83.45.

Public Service Enterprise Group (NYSE:PEG) last issued 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). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. During the same period in the prior year, the company posted $0.70 EPS. The business’s revenue was up .1% on a year-over-year basis. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. 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 2.88%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Analyst Ratings Changes

PEG has been the subject of a number of research analyst reports. Scotiabank increased 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 research report on Tuesday, August 20th. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Monday, June 17th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Barclays lifted their target price on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Mizuho upped their price objective 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $77.33.

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.