FORM Wealth Advisors LLC Acquires Shares of 3,427 Public Service Enterprise Group Incorporated (NYSE:PEG)

FORM Wealth Advisors LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 3,427 shares of the utilities provider's stock, valued at approximately $282,000.

Several other hedge funds have also recently made changes to their positions in the business. Sowell Financial Services LLC acquired a new position in Public Service Enterprise Group in the first quarter valued at approximately $298,000. Exchange Traded Concepts LLC increased its stake in shares of Public Service Enterprise Group by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock valued at $327,000 after acquiring an additional 447 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Public Service Enterprise Group by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock valued at $7,417,000 after acquiring an additional 3,601 shares during the period. Ninepoint Partners LP boosted its stake in 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 acquiring an additional 1,830 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Public Service Enterprise Group by 15.8% in the first quarter. SG Americas Securities LLC now owns 11,848 shares of the utilities provider's stock worth $975,000 after purchasing an additional 1,618 shares during the period. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PEG shares. 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 report on Wednesday, March 19th. Guggenheim dropped their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. Barclays decreased their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Evercore ISI cut their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.54.

Public Service Enterprise Group Stock Up 0.8%

Public Service Enterprise Group stock traded up $0.68 during trading on Friday, hitting $83.71. 2,755,999 shares of the company were exchanged, compared to its average volume of 2,795,983. 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 business's 50 day moving average is $80.33 and its 200 day moving average is $82.39. Public Service Enterprise Group Incorporated has a 52 week low of $73.00 and a 52 week high of $95.22. The company has a market capitalization of $41.77 billion, a P/E ratio of 22.87, a PEG ratio of 2.97 and a beta of 0.48.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. Public Service Enterprise Group's payout ratio is presently 68.85%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. This represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.