Central Asset Investments & Management Holdings HK Ltd Invests $251,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 3,400 shares of the utilities provider’s stock, valued at approximately $251,000.

Several other institutional investors have also recently added to or reduced their stakes in PEG. Family Firm Inc. bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $33,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group during the 2nd quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at about $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 worth $39,000 after acquiring an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $41,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research analyst reports. 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. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Barclays raised their price target on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Bank of America boosted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada raised their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $77.92.

Public Service Enterprise Group Stock Down 0.0 %

Shares of NYSE:PEG opened at $84.73 on Wednesday. The company has a 50 day moving average price of $79.19 and a two-hundred day moving average price of $73.23. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The company has a market capitalization of $42.21 billion, a PE ratio of 23.47, a PEG ratio of 3.03 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $85.11.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insider Activity

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction that occurred on 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 directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated 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 of the company’s stock, valued at approximately $12,014,095.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the company’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 transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock worth $2,406,965 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group 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.