Bryn Mawr Capital Management LLC Purchases 135 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Bryn Mawr Capital Management LLC increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,739 shares of the utilities provider’s stock after purchasing an additional 135 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Hantz Financial Services Inc. bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $4,536,000. Forum Financial Management LP acquired a new position in Public Service Enterprise Group in the second quarter valued at about $247,000. Ausbil Investment Management Ltd bought a new position in Public Service Enterprise Group during the second quarter worth about $15,978,000. KCM Investment Advisors LLC grew its position in shares of Public Service Enterprise Group by 0.3% during the 2nd quarter. KCM Investment Advisors LLC now owns 67,327 shares of the utilities provider’s stock worth $4,962,000 after buying an additional 180 shares during the period. Finally, Modera Wealth Management LLC raised its position in shares of Public Service Enterprise Group by 5.0% in the 2nd quarter. Modera Wealth Management LLC now owns 8,348 shares of the utilities provider’s stock valued at $615,000 after acquiring an additional 395 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $80.75 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The business has a 50-day moving average of $77.29 and a 200-day moving average of $71.27. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 3.00 and a beta of 0.59. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $0.60 dividend. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.97%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their target price 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. Scotiabank boosted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Guggenheim raised 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 report on Monday, June 17th. Barclays boosted their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.33.

Insider Activity at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.57% of the stock is currently owned by company 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.