Janney Montgomery Scott LLC Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

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

Other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $31,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $36,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $36,000. Anchor Investment Management LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $37,000. Finally, PFS Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 90.9% in the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PEG shares. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Evercore ISI upped their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Bank of America boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Barclays boosted their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Scotiabank cut their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $76.29 on Thursday. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $76.40. 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 company has a 50 day moving average price of $73.73 and a 200 day moving average price of $66.50. The firm 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 (NYSE:PEG) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the company posted $1.39 EPS. The business’s revenue for the quarter was down 26.5% on a year-over-year basis. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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