Objectivity Squared LLC Makes New $205,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Objectivity Squared LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,275 shares of the utilities provider’s stock, valued at approximately $205,000.

A number of other large investors have also recently added to or reduced their stakes in PEG. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $33,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the first quarter valued at $36,000. Salomon & Ludwin LLC raised its stake in shares of 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 purchasing an additional 560 shares in the last quarter. Finally, PFS Partners LLC raised its stake in shares of Public Service Enterprise Group by 90.9% in the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of several recent analyst reports. Evercore ISI increased their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group increased their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Scotiabank increased their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Bank of America raised their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.62.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,446 shares of company stock valued at $2,531,260 over the last ninety days. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $0.58 during mid-day trading on Wednesday, reaching $90.41. The company had a trading volume of 312,442 shares, compared to its average volume of 2,809,453. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20. The firm has a market cap of $45.03 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 3.32 and a beta of 0.61. The business’s 50-day simple moving average is $83.10 and its 200 day simple moving average is $75.81.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts predict 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 was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 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.