B.O.S.S. Retirement Advisors LLC Lowers Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

B.O.S.S. Retirement Advisors LLC lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,401 shares of the utilities provider’s stock after selling 2,640 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Public Service Enterprise Group by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 43,654,799 shares of the utilities provider’s stock valued at $3,055,836,000 after acquiring an additional 1,159,331 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Public Service Enterprise Group by 18.5% in the first quarter. JPMorgan Chase & Co. now owns 23,276,991 shares of the utilities provider’s stock valued at $1,453,648,000 after purchasing an additional 3,635,609 shares during the period. Geode Capital Management LLC increased its stake in Public Service Enterprise Group by 2.2% in the first quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utilities provider’s stock valued at $638,876,000 after purchasing an additional 221,305 shares during the last quarter. Northern Trust Corp increased its stake in Public Service Enterprise Group by 1.2% in the first quarter. Northern Trust Corp now owns 6,032,006 shares of the utilities provider’s stock valued at $422,240,000 after purchasing an additional 72,773 shares during the last quarter. Finally, ClearBridge Investments Ltd lifted its position in Public Service Enterprise Group by 1.7% during the first quarter. ClearBridge Investments Ltd now owns 5,250,388 shares of the utilities provider’s stock worth $327,887,000 after buying an additional 87,249 shares during the period. Hedge funds and other institutional investors own 72.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PEG shares. BMO Capital Markets dropped their price objective on shares of Public Service Enterprise Group from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Wednesday, August 2nd. The Goldman Sachs Group initiated coverage on shares of Public Service Enterprise Group in a research report on Wednesday, June 7th. They set a “neutral” rating and a $64.00 price target for the company. StockNews.com assumed coverage on shares of Public Service Enterprise Group in a report on Thursday, August 17th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. Finally, Royal Bank of Canada cut their target price on Public Service Enterprise Group from $70.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 6th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.38.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 8,074 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $64.45, for a total transaction of $520,369.30. Following the sale, the chief executive officer now directly owns 115,306 shares of the company’s stock, valued at $7,431,471.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Ralph A. Larossa sold 8,074 shares of Public Service Enterprise Group stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $64.45, for a total value of $520,369.30. Following the completion of the sale, the chief executive officer now owns 115,306 shares in the company, valued at $7,431,471.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 4,168 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $63.01, for a total transaction of $262,625.68. Following the completion of the sale, the chief executive officer now directly owns 122,572 shares in the company, valued at $7,723,261.72. The disclosure for this sale can be found here. Insiders sold a total of 12,442 shares of company stock valued at $795,147 in the last ninety days. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Down 0.1 %

Shares of PEG stock traded down $0.04 during trading hours on Friday, reaching $61.35. The company had a trading volume of 5,387,040 shares, compared to its average volume of 2,208,543. The company has a market capitalization of $30.62 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.52 and a current ratio of 0.67. Public Service Enterprise Group Incorporated has a twelve month low of $52.51 and a twelve month high of $66.75. The stock’s fifty day simple moving average is $61.73 and its 200 day simple moving average is $61.63.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. Public Service Enterprise Group had a net margin of 23.99% and a return on equity of 12.64%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the company earned $0.64 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.45 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a yield of 3.72%. Public Service Enterprise Group’s dividend payout ratio is currently 41.01%.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; 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.