Meeder Advisory Services Inc. Has $936,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Meeder Advisory Services Inc. lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 80.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,696 shares of the utilities provider’s stock after acquiring an additional 5,656 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Public Service Enterprise Group were worth $936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in Public Service Enterprise Group during the 2nd quarter worth about $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the 2nd quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth about $36,000. Salomon & Ludwin LLC lifted its holdings in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after buying an additional 560 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth about $41,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on PEG shares. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Monday, June 17th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Mizuho boosted their price objective on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Barclays boosted their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada boosted their price objective on 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.92.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $84.16 on Friday. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $84.18. The firm has a market capitalization of $41.93 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.99 and a beta of 0.60. The business has a 50-day simple moving average of $78.81 and a 200 day simple moving average of $72.77. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,068 shares of company stock valued at $2,406,965. Corporate insiders own 0.57% 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.