Jacobi Capital Management LLC Acquires 1,112 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Jacobi Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,286 shares of the utilities provider’s stock after buying an additional 1,112 shares during the quarter. Jacobi Capital Management LLC’s holdings in Public Service Enterprise Group were worth $887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Public Service Enterprise Group by 4.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after buying an additional 17,838 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Public Service Enterprise Group by 79.9% during the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after purchasing an additional 397,606 shares in the last quarter. TD Asset Management Inc increased its position in shares of Public Service Enterprise Group by 16.6% in the fourth quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock worth $23,047,000 after purchasing an additional 53,577 shares during the last quarter. International Assets Investment Management LLC lifted its position in Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after purchasing an additional 169,425 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its stake in Public Service Enterprise Group by 4.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 904,228 shares of the utilities provider’s stock worth $55,294,000 after buying an additional 36,745 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Up 1.6 %

Public Service Enterprise Group stock traded up $1.18 during mid-day trading on Monday, reaching $75.82. The stock had a trading volume of 1,669,302 shares, compared to its average volume of 2,823,203. The company has a market capitalization of $37.76 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.95 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $77.46. The company has a 50-day moving average price of $74.16 and a two-hundred day moving average price of $67.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results 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 net margin of 17.65% and a return on equity of 11.10%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the business posted $1.39 earnings per share. The business’s revenue for the quarter was down 26.5% on a year-over-year basis. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. 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. Mizuho lifted their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Scotiabank cut their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Bank of America raised their price objective on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Barclays boosted their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.17.

Public Service Enterprise Group 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.