Tounjian Advisory Partners LLC Invests $1.84 Million in Public Service Enterprise Group Incorporated (NYSE:PEG)

Tounjian Advisory Partners LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,356 shares of the utilities provider's stock, valued at approximately $1,840,000.

Other institutional investors also recently modified their holdings of the company. Entropy Technologies LP bought a new position in Public Service Enterprise Group during the fourth quarter worth about $2,010,000. Ninepoint Partners LP increased its holdings in shares of Public Service Enterprise Group by 14.1% during the fourth quarter. Ninepoint Partners LP now owns 14,786 shares of the utilities provider's stock worth $1,249,000 after purchasing an additional 1,830 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $875,000. Van ECK Associates Corp raised its position in shares of Public Service Enterprise Group by 103.6% in the fourth quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider's stock valued at $80,313,000 after buying an additional 483,795 shares in the last quarter. Finally, Welch & Forbes LLC raised its position in shares of Public Service Enterprise Group by 171.6% in the fourth quarter. Welch & Forbes LLC now owns 11,170 shares of the utilities provider's stock valued at $944,000 after buying an additional 7,058 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

NYSE PEG traded up $0.72 during trading on Thursday, hitting $81.53. 3,355,994 shares of the company's stock were exchanged, compared to its average volume of 2,798,645. The company has a market cap of $40.68 billion, a PE ratio of 20.03, a P/E/G ratio of 2.78 and a beta of 0.48. 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 Incorporated has a fifty-two week low of $71.89 and a fifty-two week high of $95.22. The stock's 50 day moving average price is $80.13 and its two-hundred day moving average price is $83.17.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's payout ratio is 68.85%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the sale, the chief executive officer now directly owns 221,093 shares in the company, valued at $17,523,831.18. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PEG shares. BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research note on Thursday, April 10th. Guggenheim reduced their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Evercore ISI reduced their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.63.

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.