Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,787 shares of the utilities provider’s stock after acquiring an additional 374 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Public Service Enterprise Group were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PEG. Blair William & Co. IL boosted its stake in Public Service Enterprise Group by 3.0% during the 4th quarter. Blair William & Co. IL now owns 22,972 shares of the utilities provider’s stock valued at $1,941,000 after purchasing an additional 661 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Public Service Enterprise Group by 0.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 157,548 shares of the utilities provider’s stock valued at $13,311,000 after buying an additional 534 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in Public Service Enterprise Group by 0.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 28,174 shares of the utilities provider’s stock worth $2,380,000 after acquiring an additional 239 shares during the period. Allstate Corp bought a new stake in Public Service Enterprise Group in the fourth quarter worth about $1,250,000. Finally, Allianz SE bought a new stake in Public Service Enterprise Group in the fourth quarter worth about $1,144,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 0.6%

PEG stock opened at $87.02 on Tuesday. The company has a 50 day moving average of $81.93 and a two-hundred day moving average of $82.10. The company has a market cap of $43.42 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.14 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. Public Service Enterprise Group’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $1.31 earnings per share. On average, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.90%. Public Service Enterprise Group’s dividend payout ratio is 68.85%.

Analyst Upgrades and Downgrades

PEG has been the subject of several research reports. Evercore ISI reduced their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, June 18th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $83.00 to $84.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Guggenheim reduced their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Barclays lowered their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.50.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Company 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.