USA Financial Formulas Invests $1.12 Million in Public Service Enterprise Group Incorporated (NYSE:PEG)

USA Financial Formulas acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 13,207 shares of the utilities provider’s stock, valued at approximately $1,116,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter worth $48,000. Legacy Investment Solutions LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $59,000. Fortitude Family Office LLC boosted its position in Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after buying an additional 611 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter worth $66,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Evercore ISI boosted their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,234 shares of company stock valued at $722,037 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Up 1.4 %

Shares of NYSE:PEG opened at $86.28 on Thursday. The stock has a 50 day moving average of $87.52 and a 200 day moving average of $84.21. The company has a market cap of $42.99 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.78%. Public Service Enterprise Group’s payout ratio is presently 58.97%.

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.