2,282 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Towerpoint Wealth LLC

Towerpoint Wealth LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, HoldingsChannel reports. The fund bought 2,282 shares of the utilities provider’s stock, valued at approximately $204,000.

Several other hedge funds also recently bought and sold shares of PEG. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the first quarter valued at $36,000. Salomon & Ludwin LLC increased its stake in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 1.2 %

Shares of NYSE PEG traded down $1.08 during trading on Friday, reaching $87.62. 766,170 shares of the stock were exchanged, compared to its average volume of 2,807,844. The company has a market capitalization of $43.65 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.72 and a beta of 0.61. The business’s 50-day moving average price is $83.48 and its 200 day moving average price is $76.00. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.74%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 72.73%.

Insiders Place Their Bets

In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the company’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 sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock worth $3,397,855 in the last three months. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Royal Bank of Canada boosted their price objective 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. Scotiabank increased their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Guggenheim upgraded 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $84.62.

Public Service Enterprise Group Company 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.