Apella Capital LLC Sells 422 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Apella Capital LLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,966 shares of the utilities provider’s stock after selling 422 shares during the period. Apella Capital LLC’s holdings in Public Service Enterprise Group were worth $375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Evergreen Wealth Solutions LLC raised its stake in shares of Public Service Enterprise Group by 1.7% during the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after acquiring an additional 159 shares during the last quarter. PDS Planning Inc raised its stake in shares of Public Service Enterprise Group by 4.2% during the first quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 181 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Public Service Enterprise Group by 1.1% during the first quarter. First Trust Direct Indexing L.P. now owns 17,483 shares of the utilities provider’s stock valued at $1,167,000 after acquiring an additional 183 shares during the last quarter. United Community Bank raised its stake in shares of Public Service Enterprise Group by 12.9% during the first quarter. United Community Bank now owns 1,616 shares of the utilities provider’s stock valued at $108,000 after acquiring an additional 185 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Public Service Enterprise Group by 2.3% during the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock valued at $519,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.7 %

Shares of Public Service Enterprise Group stock traded up $0.55 during trading hours on Wednesday, reaching $78.97. The company’s stock had a trading volume of 2,482,885 shares, compared to its average volume of 2,867,944. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $81.89. The company has a market capitalization of $39.33 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.97 and a beta of 0.59. The stock’s fifty day simple moving average is $74.85 and its two-hundred day simple moving average is $68.64. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.62 and a current ratio of 0.65.

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

Public Service Enterprise Group Dividend Announcement

The company also recently declared 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 dividend yield of 3.04%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEG shares. Royal Bank of Canada raised their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Mizuho increased their price objective 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. Barclays increased their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Scotiabank decreased their price objective 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. Finally, BMO Capital Markets increased 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 research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.17.

About Public Service Enterprise Group

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.