Armstrong Fleming & Moore Inc Makes New $342,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Armstrong Fleming & Moore Inc acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,160 shares of the utilities provider's stock, valued at approximately $342,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Entropy Technologies LP purchased a new position in Public Service Enterprise Group during the 4th quarter worth $2,010,000. Ninepoint Partners LP grew its position in Public Service Enterprise Group by 14.1% during the 4th 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 last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Public Service Enterprise Group during the 4th quarter worth $875,000. Van ECK Associates Corp grew its position in Public Service Enterprise Group by 103.6% during the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider's stock worth $80,313,000 after purchasing an additional 483,795 shares during the last quarter. Finally, Clarity Wealth Advisors LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth $803,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Down 0.7%

Shares of NYSE PEG opened at $79.79 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52 week low of $71.89 and a 52 week high of $95.22. The firm has a 50-day moving average price of $80.26 and a 200 day moving average price of $83.48. The stock has a market capitalization of $39.82 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the business earned $1.31 earnings per share. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PEG shares. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research note on Wednesday, March 19th. Morgan Stanley reduced their target price on shares of 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. Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Finally, Evercore ISI reduced their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $89.63.

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.

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