Kowal Investment Group LLC Acquires 1,536 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kowal Investment Group LLC raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 35.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,821 shares of the utilities provider’s stock after buying an additional 1,536 shares during the quarter. Kowal Investment Group LLC’s holdings in Public Service Enterprise Group were worth $389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEG. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after buying an additional 7,103,657 shares during the period. Norges Bank bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $215,074,000. JPMorgan Chase & Co. grew its holdings in shares of Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after purchasing an additional 726,613 shares during the last quarter. Cohen & Steers Inc. grew its holdings in shares of Public Service Enterprise Group by 23.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after purchasing an additional 455,693 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Public Service Enterprise Group by 72.7% in the 3rd quarter. Royal Bank of Canada now owns 963,679 shares of the utilities provider’s stock worth $54,845,000 after purchasing an additional 405,533 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Up 0.3 %

Shares of NYSE:PEG traded up $0.25 during mid-day trading on Monday, reaching $73.95. The stock had a trading volume of 2,398,052 shares, compared to its average volume of 2,857,948. The firm has a 50 day simple moving average of $72.69 and a two-hundred day simple moving average of $65.80. The firm has a market cap of $36.83 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $75.82. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business posted $1.39 EPS. The business’s quarterly revenue was down 26.5% compared to the same quarter last year. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.25%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Analyst Upgrades and Downgrades

PEG has been the topic of several analyst reports. Evercore ISI upped their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Morgan Stanley reduced their price target on shares of 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. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Monday, June 17th. Finally, Scotiabank reduced their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.50.

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.