Capital Advisors Inc. OK Invests $288,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Capital Advisors Inc. OK purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,504 shares of the utilities provider's stock, valued at approximately $288,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its position in shares of Public Service Enterprise Group by 6.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock valued at $3,922,000 after buying an additional 2,803 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $298,000. Wealth Enhancement Advisory Services LLC increased its stake in Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after acquiring an additional 3,601 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Public Service Enterprise Group by 12.7% in the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock valued at $327,000 after buying an additional 447 shares during the period. Finally, Spire Wealth Management raised its stake in shares of Public Service Enterprise Group by 8.6% in the 1st quarter. Spire Wealth Management now owns 5,653 shares of the utilities provider's stock valued at $465,000 after acquiring an additional 446 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of PEG traded down $0.02 during midday trading on Wednesday, reaching $81.58. The stock had a trading volume of 1,848,366 shares, compared to its average volume of 2,776,921. The firm's 50 day moving average price is $80.46 and its 200-day moving average price is $82.22. Public Service Enterprise Group Incorporated has a 52 week low of $73.72 and a 52 week high of $95.22. The company has a market capitalization of $40.71 billion, a P/E ratio of 22.29, a P/E/G ratio of 2.92 and a beta of 0.48. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The business's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued a $0.63 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PEG. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research note on Wednesday, March 19th. UBS Group upgraded shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $86.00 to $97.00 in a research note on Monday. Evercore ISI decreased their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley cut their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $89.46.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company's stock.

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.