PFG Investments LLC Buys Shares of 28,430 Public Service Enterprise Group Incorporated (NYSE:PEG)

PFG Investments LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 28,430 shares of the utilities provider's stock, valued at approximately $1,899,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PEG. Operose Advisors LLC boosted its position in Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 435 shares in the last quarter. Addison Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $31,000. CNB Bank acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth $34,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $36,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter worth $36,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $0.27 during trading on Friday, reaching $67.82. 2,973,057 shares of the company traded hands, compared to its average volume of 2,445,853. The firm's fifty day simple moving average is $64.64 and its 200 day simple moving average is $62.32. The stock has a market cap of $33.81 billion, a P/E ratio of 13.22, a PEG ratio of 2.97 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $68.39. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company's revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.54%. Public Service Enterprise Group's payout ratio is currently 46.78%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company's stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,948 shares of company stock worth $511,814. Insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PEG. Evercore ISI raised their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. Scotiabank lowered their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a "sector perform" rating for the company in a research report on Monday, April 22nd. TheStreet raised Public Service Enterprise Group from a "c+" rating to a "b-" rating in a research report on Wednesday, March 6th. Wells Fargo & Company raised their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada raised their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $67.15.

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.

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