Cwm LLC Purchases 8,723 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Cwm LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 72.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,786 shares of the utilities provider’s stock after acquiring an additional 8,723 shares during the period. Cwm LLC’s holdings in Public Service Enterprise Group were worth $1,532,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEG. Allspring Global Investments Holdings LLC lifted its position in Public Service Enterprise Group by 4.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after acquiring an additional 17,838 shares during the period. Jennison Associates LLC increased its stake 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 valued at $54,757,000 after purchasing an additional 397,606 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Public Service Enterprise Group by 16.6% during the fourth quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock valued at $23,047,000 after purchasing an additional 53,577 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of 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. boosted its position in shares of 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 purchasing an additional 36,745 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG traded up $0.28 on Friday, reaching $79.64. 407,185 shares of the stock were exchanged, compared to its average volume of 2,851,217. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $81.89. The firm has a market capitalization of $39.67 billion, a PE ratio of 21.67, a PEG ratio of 2.97 and a beta of 0.59. The company’s 50-day simple moving average is $75.07 and its two-hundred day simple moving average is $68.79.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEG. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, June 17th. Barclays upped their target price on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Morgan Stanley cut 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 report on Monday, June 24th. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. Finally, Scotiabank cut 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 note on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.17.

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.