Forte Capital LLC ADV Buys Shares of 3,407 Public Service Enterprise Group Incorporated (NYSE:PEG)

Forte Capital LLC ADV purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,407 shares of the utilities provider's stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI boosted its position in Public Service Enterprise Group by 4.0% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,701 shares of the utilities provider's stock worth $881,000 after purchasing an additional 411 shares during the period. Bailard Inc. raised its position in shares of Public Service Enterprise Group by 12.9% during the first quarter. Bailard Inc. now owns 17,157 shares of the utilities provider's stock worth $1,412,000 after purchasing an additional 1,959 shares during the period. Woodward Diversified Capital LLC raised its position in Public Service Enterprise Group by 9.0% in the 1st quarter. Woodward Diversified Capital LLC now owns 3,188 shares of the utilities provider's stock valued at $262,000 after buying an additional 263 shares during the last quarter. Graypoint LLC increased its position in shares of Public Service Enterprise Group by 5.4% during the 1st quarter. Graypoint LLC now owns 4,444 shares of the utilities provider's stock worth $366,000 after purchasing an additional 226 shares during the last quarter. Finally, Hudock Inc. boosted its stake in shares of Public Service Enterprise Group by 11.1% during the 1st quarter. Hudock Inc. now owns 5,595 shares of the utilities provider's stock worth $461,000 after acquiring an additional 557 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley cut their target price 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. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Barclays dropped 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. Guggenheim lowered their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, BMO Capital Markets decreased their price target 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $89.86.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded up $1.56 during midday trading on Friday, reaching $84.31. 3,009,323 shares of the company traded hands, compared to its average volume of 2,772,005. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a 12 month low of $73.77 and a 12 month high of $95.22. The firm has a market capitalization of $42.07 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 2.97 and a beta of 0.48. The firm's fifty day moving average price is $80.98 and its two-hundred day moving average price is $82.09.

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

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

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.