Kingswood Wealth Advisors LLC Makes New $461,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kingswood Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, Holdings Channel reports. The firm acquired 6,261 shares of the utilities provider’s stock, valued at approximately $461,000.

Other large investors have also recently added to or reduced their stakes in the company. Mather Group LLC. increased its position in shares of Public Service Enterprise Group by 115.5% in the second quarter. Mather Group LLC. now owns 4,553 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 2,440 shares during the period. DNB Asset Management AS increased its position in shares of Public Service Enterprise Group by 3.1% in the second quarter. DNB Asset Management AS now owns 109,134 shares of the utilities provider’s stock worth $8,043,000 after purchasing an additional 3,308 shares during the period. Marcum Wealth LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth $275,000. Massmutual Trust Co. FSB ADV increased its position in shares of Public Service Enterprise Group by 27.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 917 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 196 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Public Service Enterprise Group by 116.5% in the second quarter. GAMMA Investing LLC now owns 4,809 shares of the utilities provider’s stock worth $354,000 after purchasing an additional 2,588 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PEG shares. BMO Capital Markets raised their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Monday, June 17th. Scotiabank decreased their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, Morgan Stanley decreased their target price on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.17.

Public Service Enterprise Group Stock Performance

PEG stock traded up $0.55 during midday trading on Wednesday, hitting $78.97. The company’s stock had a trading volume of 2,616,532 shares, compared to its average volume of 2,867,944. The stock’s 50-day moving average price is $74.85 and its 200 day moving average price is $68.64. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $81.89. The stock has a market cap of $39.33 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.97 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 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 firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company earned $0.70 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.04%. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

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.