Pinnacle Wealth Management Advisory Group LLC Increases Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.8% during the second quarter, Holdings Channel reports. The firm owned 6,732 shares of the utilities provider’s stock after acquiring an additional 1,466 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Public Service Enterprise Group were worth $402,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Public Service Enterprise Group by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,272,556 shares of the utilities provider’s stock valued at $74,182,000 after acquiring an additional 16,334 shares in the last quarter. Victory Capital Management Inc. lifted its position in Public Service Enterprise Group by 10.0% in the 1st quarter. Victory Capital Management Inc. now owns 472,885 shares of the utilities provider’s stock valued at $28,472,000 after acquiring an additional 42,985 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Public Service Enterprise Group by 17.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 531,062 shares of the utilities provider’s stock valued at $31,975,000 after acquiring an additional 80,255 shares in the last quarter. Natixis Advisors L.P. lifted its position in Public Service Enterprise Group by 6.7% in the 1st quarter. Natixis Advisors L.P. now owns 215,082 shares of the utilities provider’s stock valued at $12,949,000 after acquiring an additional 13,569 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in Public Service Enterprise Group by 15.7% during the 1st quarter. IFM Investors Pty Ltd now owns 54,632 shares of the utilities provider’s stock valued at $3,289,000 after buying an additional 7,424 shares during the last quarter. Institutional investors own 70.24% of the company’s stock.

PEG has been the subject of a number of research reports. Seaport Global Securities upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, May 24th. KeyCorp upped their price objective on Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, August 13th. Barclays increased their price target on Public Service Enterprise Group from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 25th. Morgan Stanley increased their price target on Public Service Enterprise Group from $71.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, August 19th. Finally, Seaport Res Ptn upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating in a research note on Monday, May 24th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $67.50.

Shares of NYSE:PEG opened at $62.57 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.53 and a debt-to-equity ratio of 0.97. Public Service Enterprise Group Incorporated has a 12 month low of $50.32 and a 12 month high of $65.33. The company has a 50-day moving average price of $62.86 and a 200 day moving average price of $61.45. The company has a market cap of $31.63 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 4.99 and a beta of 0.54.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 3rd. The utilities provider reported $0.70 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.70. Public Service Enterprise Group had a net margin of 15.49% and a return on equity of 11.40%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company posted $0.79 EPS. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 8th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.48%.

In other news, COO Ralph A. Larossa sold 4,890 shares of the firm’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $62.85, for a total transaction of $307,336.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Rose M. Chernick sold 400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $64.71, for a total transaction of $25,884.00. The disclosure for this sale can be found here. Insiders sold a total of 10,980 shares of company stock worth $698,075 over the last three months. 0.52% of the stock is currently owned by corporate insiders.

About Public Service Enterprise Group

Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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