Altrius Capital Management Inc Has $302,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Altrius Capital Management Inc cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,100 shares of the utilities provider’s stock after selling 200 shares during the quarter. Altrius Capital Management Inc’s holdings in Public Service Enterprise Group were worth $302,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PEG. TD Asset Management Inc grew its position in shares of Public Service Enterprise Group by 16.6% in the fourth 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 during the last quarter. QRG Capital Management Inc. boosted its stake in 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 during the period. CWM LLC grew 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 buying an additional 8,723 shares during the last quarter. Czech National Bank increased its position 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 worth $6,995,000 after buying an additional 7,235 shares during the period. Finally, SG Americas Securities LLC increased its position 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 worth $4,303,000 after buying an additional 38,188 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.6 %

PEG stock opened at $84.24 on Thursday. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $85.31. 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 business’s 50 day moving average is $79.35 and its 200-day moving average is $73.31. The firm has a market cap of $41.96 billion, a P/E ratio of 23.34, a P/E/G ratio of 3.03 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared 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 of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.85%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Analyst Upgrades and Downgrades

PEG has been the subject of several research reports. Barclays increased 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. Royal Bank of Canada raised their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Bank of America boosted 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. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $77.92.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 owns 148,892 shares in the company, valued at $12,014,095.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction 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 owns 57,961 shares in the company, valued at $4,610,217.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Over the last ninety days, insiders have sold 30,068 shares of company stock valued at $2,406,965. 0.57% of the stock is currently owned by 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.