Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 34.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,010 shares of the utilities provider’s stock after buying an additional 1,285 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Public Service Enterprise Group were worth $447,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PEG. Scarborough Advisors LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at about $41,000. Fortis Group Advisors LLC lifted its position in shares of Public Service Enterprise Group by 32.3% in the fourth quarter. Fortis Group Advisors LLC now owns 15,458 shares of the utilities provider’s stock worth $956,000 after purchasing an additional 3,777 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $144,000. SageView Advisory Group LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $643,000. Finally, Leo Wealth LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $1,195,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank of Canada increased their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Barclays increased their price target on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a report on Monday, October 7th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.62.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $1.04 during midday trading on Friday, reaching $87.66. 3,781,659 shares of the company traded hands, compared to its average volume of 2,823,150. The firm has a market cap of $43.66 billion, a PE ratio of 24.28, a PEG ratio of 2.72 and a beta of 0.61. The stock’s 50-day simple moving average is $83.66 and its 200-day simple moving average is $76.23. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last announced its 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 business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business posted $0.70 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were given a $0.60 dividend. The ex-dividend date 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 payout ratio is 66.48%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock worth $3,397,855 over the last three months. 0.57% of the stock is currently owned by company insiders.

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.