SPC Financial Inc. Buys 2,158 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

SPC Financial Inc. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,011 shares of the utilities provider’s stock after purchasing an additional 2,158 shares during the period. SPC Financial Inc.’s holdings in Public Service Enterprise Group were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after buying an additional 1,674,827 shares during the last quarter. Sound Shore Management Inc. CT purchased a new position in Public Service Enterprise Group in the second quarter worth $71,298,000. Hsbc Holdings PLC increased its position in shares of Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after purchasing an additional 732,443 shares in the last quarter. Reaves W H & Co. Inc. increased its position in shares of Public Service Enterprise Group by 73.9% during the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after purchasing an additional 667,773 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Public Service Enterprise Group by 381.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after purchasing an additional 634,587 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Up 1.1 %

Shares of Public Service Enterprise Group stock opened at $89.21 on Tuesday. The stock has a market cap of $44.43 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 3.20 and a beta of 0.60. The firm has a fifty day moving average price of $81.30 and a 200 day moving average price of $74.67. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $89.42. 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 (NYSE:PEG) last released its quarterly earnings data 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). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts predict 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 was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were given a $0.60 dividend. The ex-dividend date was Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.69%. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction 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 directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available 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 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. Insiders have sold 30,068 shares of company stock valued at $2,406,965 in the last 90 days. 0.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PEG. Bank of America upped their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Monday, June 17th. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Finally, BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.46.

Public Service Enterprise Group 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.