3,622 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,622 shares of the utilities provider’s stock, valued at approximately $298,000.

Other hedge funds have also bought and sold shares of the company. Transce3nd LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth about $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $25,000. REAP Financial Group LLC grew its position in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares during the last quarter. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $39,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $50,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $82.08 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. The firm has a market capitalization of $40.96 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.94 and a beta of 0.48. The company’s 50-day moving average is $80.35 and its two-hundred day moving average is $82.53. Public Service Enterprise Group Incorporated has a 1-year low of $72.82 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 68.85%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. Finally, Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Hold” and an average target price of $89.54.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at $18,372,009.60. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% 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.