Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Sagefield Capital LP

Sagefield Capital LP increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 113.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,542 shares of the utilities provider’s stock after purchasing an additional 17,298 shares during the period. Sagefield Capital LP’s holdings in Public Service Enterprise Group were worth $2,398,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PEG. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter valued at $36,000. Salomon & Ludwin LLC raised its stake in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.3 %

NYSE PEG opened at $87.90 on Tuesday. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $88.48. The firm has a 50-day moving average price of $79.97 and a 200 day moving average price of $73.83. The stock has a market capitalization of $43.78 billion, a P/E ratio of 24.35, a P/E/G ratio of 3.09 and a beta of 0.60. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.73%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Activity

In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The disclosure for this sale can be found here. Insiders sold 30,068 shares of company stock worth $2,406,965 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on PEG. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Bank of America boosted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Royal Bank of Canada raised their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Barclays upped their price target on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.85.

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.