Revolve Wealth Partners LLC Purchases Shares of 3,152 Public Service Enterprise Group Incorporated (NYSE:PEG)

Revolve Wealth Partners LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,152 shares of the utilities provider's stock, valued at approximately $259,000.

Other hedge funds also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. boosted its stake in shares of Public Service Enterprise Group by 3.0% during the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after acquiring an additional 120 shares in the last quarter. Centre Asset Management LLC boosted its stake in shares of Public Service Enterprise Group by 3.2% during the 1st quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after acquiring an additional 121 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock worth $128,000 after acquiring an additional 139 shares in the last quarter. Apella Capital LLC boosted its stake in shares of Public Service Enterprise Group by 2.7% during the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after acquiring an additional 144 shares in the last quarter. Finally, Copperwynd Financial LLC boosted its stake in shares of Public Service Enterprise Group by 1.4% during the 4th quarter. Copperwynd Financial LLC now owns 10,714 shares of the utilities provider's stock worth $905,000 after acquiring an additional 145 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of 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. Evercore ISI lowered their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Guggenheim lowered their target price on shares of 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. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Bank of America reduced their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of "Hold" and an average price target of $89.63.

Public Service Enterprise Group Stock Up 0.5%

PEG opened at $80.19 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $71.89 and a twelve month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a 50-day moving average price of $80.20 and a 200 day moving average price of $83.30. The company has a market cap of $40.01 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.78 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 EPS for the quarter, meeting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 EPS. Sell-side analysts expect 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.14%. Public Service Enterprise Group's payout ratio is 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares in the company, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by 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.

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