Edgestream Partners L.P. Takes $372,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Edgestream Partners L.P. bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,172 shares of the utilities provider’s stock, valued at approximately $372,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEG. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group during the 3rd quarter worth $35,000. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at about $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter valued at approximately $48,000. Finally, Country Trust Bank purchased a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG opened at $90.01 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The stock has a market cap of $44.85 billion, a P/E ratio of 22.12, a P/E/G ratio of 3.34 and a beta of 0.62. The stock’s 50 day simple moving average is $89.62 and its 200 day simple moving average is $81.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PEG shares. UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Finally, Barclays reduced their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.08.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,361 shares of company stock valued at $2,356,562 over the last quarter. 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.