Jeppson Wealth Management LLC Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Jeppson Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,900 shares of the utilities provider’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PEG. TD Asset Management Inc increased its holdings in Public Service Enterprise Group by 16.6% in the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock valued at $23,047,000 after acquiring an additional 53,577 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Public Service Enterprise Group by 28.0% in the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after acquiring an additional 15,505 shares during the last quarter. CWM LLC increased its holdings in Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 8,723 shares during the last quarter. Czech National Bank increased its holdings in Public Service Enterprise Group by 8.3% in the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after acquiring an additional 7,235 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Public Service Enterprise Group by 145.5% in the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock valued at $4,303,000 after acquiring an additional 38,188 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Up 0.1 %

Shares of PEG stock traded up $0.07 during trading hours on Friday, reaching $80.97. 58,769 shares of the stock were exchanged, compared to its average volume of 2,794,978. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $81.89. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The company’s 50-day moving average price is $77.85 and its 200-day moving average price is $71.87. The firm has a market capitalization of $40.34 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.94 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business 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. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.96%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PEG. Royal Bank of Canada lifted their price target 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. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Monday, June 17th. BMO Capital Markets boosted their target price 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. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Barclays boosted their target price on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One 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 issued a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $77.33.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

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.