Wealth Enhancement Advisory Services LLC Acquires 3,601 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,126 shares of the utilities provider's stock after buying an additional 3,601 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Public Service Enterprise Group were worth $7,417,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Transce3nd LLC purchased a new position in Public Service Enterprise Group during the 4th quarter worth $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $25,000. REAP Financial Group LLC boosted its holdings in Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after purchasing an additional 162 shares during the last quarter. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $39,000. Finally, Optiver Holding B.V. bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $50,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of PEG traded up $0.68 during trading hours on Friday, hitting $83.71. The company's stock had a trading volume of 2,755,999 shares, compared to its average volume of 2,783,351. The business has a 50 day simple moving average of $80.34 and a two-hundred day simple moving average of $82.35. Public Service Enterprise Group Incorporated has a 52-week low of $73.11 and a 52-week high of $95.22. 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 company has a market cap of $41.77 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 2.99 and a beta of 0.48.

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

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend 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 68.85%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America dropped their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Morgan Stanley dropped their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Evercore ISI cut their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research report on Wednesday, March 19th. Finally, Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $89.54.

Public Service Enterprise Group Company 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.