Usca Ria LLC Raises Stake in Public Service Enterprise Group Inc. (PEG)

Usca Ria LLC increased its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 155.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,830 shares of the utilities provider’s stock after acquiring an additional 52,851 shares during the quarter. Usca Ria LLC’s holdings in Public Service Enterprise Group were worth $4,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. American Research & Management Co. acquired a new position in Public Service Enterprise Group in the second quarter valued at about $108,000. NuWave Investment Management LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at about $118,000. Squar Milner Financial Services LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at about $149,000. Cordasco Financial Network lifted its stake in Public Service Enterprise Group by 63.1% in the second quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock valued at $154,000 after buying an additional 1,100 shares during the period. Finally, Adviser Investments LLC lifted its stake in Public Service Enterprise Group by 98.8% in the second quarter. Adviser Investments LLC now owns 3,224 shares of the utilities provider’s stock valued at $175,000 after buying an additional 1,602 shares during the period. 68.24% of the stock is currently owned by institutional investors and hedge funds.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $53.85, for a total value of $1,121,857.05. Following the completion of the sale, the chairman now directly owns 574,131 shares in the company, valued at $30,916,954.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 62,499 shares of company stock valued at $3,269,739 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

PEG has been the topic of several analyst reports. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Deutsche Bank lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Mizuho reissued a “hold” rating and issued a $50.00 target price on shares of Public Service Enterprise Group in a research note on Monday, August 6th. Citigroup increased their target price on Public Service Enterprise Group from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 9th. Finally, Goldman Sachs Group lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $55.00 to $53.00 in a research note on Thursday, July 19th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Public Service Enterprise Group has an average rating of “Buy” and a consensus price target of $52.83.

Shares of Public Service Enterprise Group stock traded up $0.26 during trading hours on Thursday, hitting $53.06. The company’s stock had a trading volume of 54,773 shares, compared to its average volume of 3,134,309. Public Service Enterprise Group Inc. has a 12 month low of $45.05 and a 12 month high of $54.50. The company has a market capitalization of $25.93 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.78 and a beta of 0.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.52.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. Public Service Enterprise Group had a return on equity of 11.03% and a net margin of 23.69%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the prior year, the company earned $0.62 earnings per share. equities analysts anticipate that Public Service Enterprise Group Inc. will post 3.1 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be issued a $0.45 dividend. The ex-dividend date is Thursday, September 6th. This represents a $1.80 annualized dividend and a dividend yield of 3.39%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 61.43%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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