Saxon Interests Inc. Purchases New Shares in Public Service Enterprise Group Incorporated (NYSE:PEG)

Saxon Interests Inc. purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,943 shares of the utilities provider’s stock, valued at approximately $263,000.

Other large investors have also added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the 2nd quarter worth $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth $36,000. Salomon & Ludwin LLC grew its holdings 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 acquired a new position in Public Service Enterprise Group during the 4th quarter worth $41,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 0.8 %

Shares of PEG stock traded down $0.73 during trading hours on Wednesday, reaching $90.26. 385,625 shares of the stock traded hands, compared to its average volume of 2,809,698. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The business has a fifty day moving average price of $83.10 and a 200 day moving average price of $75.81. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $44.96 billion, a PE ratio of 25.21, a PEG ratio of 3.32 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm 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 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.66%. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company. Bank of America raised their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank raised their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.62.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This represents 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 valued at $2,531,260 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

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.