Florida Financial Advisors LLC Purchases 3,719 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Florida Financial Advisors LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 150.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,197 shares of the utilities provider's stock after purchasing an additional 3,719 shares during the period. Florida Financial Advisors LLC's holdings in Public Service Enterprise Group were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its position in shares of Public Service Enterprise Group by 6.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after acquiring an additional 2,803 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Public Service Enterprise Group during the first quarter worth about $298,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after acquiring an additional 3,601 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after acquiring an additional 447 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Public Service Enterprise Group during the first quarter worth about $329,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $0.32 during trading hours on Wednesday, reaching $82.17. The company had a trading volume of 2,504,286 shares, compared to its average volume of 2,772,271. Public Service Enterprise Group Incorporated has a one year low of $73.72 and a one year high of $95.22. The business has a fifty day simple moving average of $80.76 and a 200 day simple moving average of $82.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. The firm has a market cap of $41.00 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 2.97 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the company earned $1.31 earnings per share. The firm's quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were issued a $0.63 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEG. Barclays dropped their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. UBS Group raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $86.00 to $97.00 in a research note on Monday, July 7th. Guggenheim dropped their price objective 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. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Finally, BMO Capital Markets dropped their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research note on Thursday, April 10th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average target price of $89.86.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company's stock.

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.