NewSquare Capital LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.5% during the second quarter, Holdings Channel reports. The institutional investor owned 19,529 shares of the utilities provider’s stock after buying an additional 1,369 shares during the period. NewSquare Capital LLC’s holdings in Public Service Enterprise Group were worth $840,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PEG. FMR LLC boosted its stake in shares of Public Service Enterprise Group by 1.9% in the first quarter. FMR LLC now owns 2,166,576 shares of the utilities provider’s stock worth $96,088,000 after buying an additional 40,125 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock worth $1,554,116,000 after buying an additional 1,144,077 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Public Service Enterprise Group by 47.8% in the first quarter. Bank of Montreal Can now owns 1,004,699 shares of the utilities provider’s stock worth $44,559,000 after buying an additional 325,079 shares in the last quarter. DT Investment Partners LLC boosted its stake in shares of Public Service Enterprise Group by 15.9% in the first quarter. DT Investment Partners LLC now owns 22,646 shares of the utilities provider’s stock worth $1,004,000 after buying an additional 3,115 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its stake in shares of Public Service Enterprise Group by 6.6% in the first quarter. Peapack Gladstone Financial Corp now owns 151,656 shares of the utilities provider’s stock worth $6,726,000 after buying an additional 9,338 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Public Service Enterprise Group Incorporated (PEG) opened at 45.92 on Tuesday. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 51.60 and a beta of 0.38. Public Service Enterprise Group Incorporated has a 1-year low of $39.28 and a 1-year high of $46.14. The stock has a 50 day moving average of $43.98 and a 200 day moving average of $44.21.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.05. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same quarter in the prior year, the company earned $0.57 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 193.26%.

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A number of equities research analysts have weighed in on PEG shares. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated an “outperform” rating on shares of Public Service Enterprise Group in a research report on Wednesday, May 10th. BidaskClub upgraded shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Finally, Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $48.21.

In related news, Chairman Ralph Izzo sold 23,400 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the completion of the sale, the chairman now owns 748,474 shares of the company’s stock, valued at approximately $33,853,479.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Ralph A. Larossa sold 24,021 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total transaction of $1,046,114.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,421 shares of company stock valued at $3,389,397. Corporate insiders own 0.61% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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