Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,914 shares of the utilities provider’s stock after purchasing an additional 730 shares during the period. Public Service Enterprise Group makes up about 0.8% of Peddock Capital Advisors LLC’s holdings, making the stock its 26th largest holding. Peddock Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $3,293,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PEG. Family Firm Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the first quarter valued at $36,000. Salomon & Ludwin LLC increased its holdings in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new position in Public Service Enterprise Group in the fourth quarter valued at $41,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,446 shares of company stock worth $2,531,260 in the last ninety days. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PEG. Jefferies Financial Group began coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. Barclays increased their target price on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a report on Monday. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. BMO Capital Markets raised their price target 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. Finally, Bank of America raised their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.62.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock traded down $0.58 during trading on Wednesday, hitting $90.41. 312,442 shares of the company were exchanged, compared to its average volume of 2,809,453. 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 Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The stock has a market capitalization of $45.03 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 3.32 and a beta of 0.61. The firm has a 50 day moving average price of $83.10 and a 200 day moving average price of $75.81.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. 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 was paid on Monday, September 30th. Investors of record on Monday, September 9th were given a dividend of $0.60 per share. The ex-dividend date was Monday, September 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.65%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

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.