Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 65.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,894 shares of the utilities provider’s stock after buying an additional 2,726 shares during the period. HB Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $508,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the first quarter valued at approximately $36,000. Salomon & Ludwin LLC grew its position 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 acquiring an additional 560 shares in the last quarter. Finally, PFS Partners LLC raised its stake in shares of Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays lifted their target price on 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. 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. Scotiabank lifted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, BMO Capital Markets increased their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Insider Buying and Selling at Public Service Enterprise Group

In other 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 transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $80.41 on Friday. The company has a market cap of $40.05 billion, a P/E ratio of 22.27, a PEG ratio of 3.00 and a beta of 0.59. The business has a 50 day moving average of $76.99 and a two-hundred day moving average of $71.06. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $81.89. 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 (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 company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. Public Service Enterprise Group’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 earnings per share. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

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.