Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Inspire Trust Co. N.A.

Key Points

• Inspire Trust Co. N.A. increased its stake in Public Service Enterprise Group by 25.0%, acquiring an additional 4,000 shares, raising its total holdings to 20,000 shares valued at approximately $1.646 million.
• Despite varied opinions from analysts, the company holds an average rating of "Hold" with a consensus price target of $90.95, reflecting mixed sentiment regarding its stock performance.
• The company will pay a dividend of $0.63 per share on September 30th, with an annualized yield of 2.9% and a dividend payout ratio of 63.64%.

Inspire Trust Co. N.A. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 25.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,000 shares of the utilities provider's stock after purchasing an additional 4,000 shares during the period. Inspire Trust Co. N.A.'s holdings in Public Service Enterprise Group were worth $1,646,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC boosted its stake in shares of Public Service Enterprise Group by 5.9% during the first quarter. Kovitz Investment Group Partners LLC now owns 11,159 shares of the utilities provider's stock valued at $918,000 after purchasing an additional 623 shares during the period. OneAscent Investment Solutions LLC purchased a new stake in Public Service Enterprise Group in the first quarter valued at approximately $488,000. Sit Investment Associates Inc. boosted its position in Public Service Enterprise Group by 14.5% in the first quarter. Sit Investment Associates Inc. now owns 110,000 shares of the utilities provider's stock valued at $9,053,000 after buying an additional 13,910 shares during the last quarter. Centerpoint Advisors LLC boosted its position in Public Service Enterprise Group by 32.6% in the 1st quarter. Centerpoint Advisors LLC now owns 813 shares of the utilities provider's stock worth $67,000 after purchasing an additional 200 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in Public Service Enterprise Group by 1.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,138 shares of the utilities provider's stock worth $1,246,000 after purchasing an additional 272 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PEG shares. Barclays cut their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Evercore ISI cut their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Morgan Stanley dropped 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. UBS Group boosted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Hold" and a consensus price target of $90.95.

Public Service Enterprise Group Price Performance

PEG stock traded down $1.46 on Friday, reaching $85.34. 2,922,549 shares of the company's stock were exchanged, compared to its average volume of 2,581,507. The stock has a fifty day moving average of $84.23 and a 200-day moving average of $82.29. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The firm has a market cap of $42.59 billion, a PE ratio of 21.55, a P/E/G ratio of 2.97 and a beta of 0.45. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%. Public Service Enterprise Group's revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.0%. Public Service Enterprise Group's dividend payout ratio is 63.64%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,387 shares of the 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 transaction, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company's stock.

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.