Calton & Associates Inc. Purchases 3,053 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Calton & Associates Inc. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 47.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,512 shares of the utilities provider's stock after acquiring an additional 3,053 shares during the quarter. Calton & Associates Inc.'s holdings in Public Service Enterprise Group were worth $783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Parallel Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 20.7% in the fourth quarter. Parallel Advisors LLC now owns 3,809 shares of the utilities provider's stock worth $322,000 after acquiring an additional 652 shares in the last quarter. Axxcess Wealth Management LLC grew its holdings in Public Service Enterprise Group by 4.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 7,457 shares of the utilities provider's stock worth $630,000 after buying an additional 346 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Public Service Enterprise Group by 101.5% in the 4th quarter. Teacher Retirement System of Texas now owns 29,384 shares of the utilities provider's stock worth $2,483,000 after buying an additional 14,800 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in Public Service Enterprise Group by 19.0% during the 4th quarter. iA Global Asset Management Inc. now owns 18,472 shares of the utilities provider's stock valued at $1,561,000 after purchasing an additional 2,947 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 1.9%

Public Service Enterprise Group stock traded up $1.56 during mid-day trading on Friday, hitting $84.31. 3,009,323 shares of the company's stock were exchanged, compared to its average volume of 2,774,131. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. The stock has a market cap of $42.07 billion, a P/E ratio of 23.04, a P/E/G ratio of 3.02 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $73.83 and a 1-year high of $95.22. The stock has a 50 day moving average of $80.98 and a two-hundred day moving average of $82.08.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.43. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm's revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share. As a group, 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 company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PEG. Guggenheim cut their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Barclays cut their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday. Morgan Stanley cut their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Finally, UBS Group upgraded Public Service Enterprise Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $86.00 to $97.00 in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of "Hold" and a consensus price target of $89.86.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

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.