Anchor Investment Management LLC Has $102,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Anchor Investment Management LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 127.9% in the second quarter, Holdings Channel reports. The firm owned 1,390 shares of the utilities provider’s stock after purchasing an additional 780 shares during the quarter. Anchor Investment Management LLC’s holdings in Public Service Enterprise Group were worth $102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in shares of Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after acquiring an additional 131 shares in the last quarter. Bryn Mawr Capital Management LLC grew its stake in Public Service Enterprise Group by 0.5% in the second quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock valued at $1,905,000 after purchasing an additional 135 shares in the last quarter. Crestwood Advisors Group LLC increased its position in shares of Public Service Enterprise Group by 4.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 153 shares during the last quarter. Evergreen Wealth Solutions LLC raised its stake in shares of Public Service Enterprise Group by 1.7% during the 1st quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock worth $648,000 after purchasing an additional 159 shares in the last quarter. Finally, Kowal Investment Group LLC boosted its holdings in shares of Public Service Enterprise Group by 2.7% in the 2nd quarter. Kowal Investment Group LLC now owns 5,981 shares of the utilities provider’s stock valued at $441,000 after buying an additional 160 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PEG shares. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price on the stock. Royal Bank of Canada upped their target price 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. Scotiabank lifted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. UBS Group upped their price objective on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given 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 Stock Performance

PEG opened at $92.02 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 fifty day simple moving average of $82.58 and a 200 day simple moving average of $75.28. Public Service Enterprise Group Incorporated has a 1 year low of $55.07 and a 1 year high of $92.20. The company has a market capitalization of $45.83 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.22 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results 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 net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $0.70 EPS. The company’s revenue was up .1% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, September 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.61%. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Insider Activity

In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,446 shares of company stock worth $2,531,260. Corporate insiders own 0.57% of the company’s stock.

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.