Scientech Research LLC Takes $427,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)
Scientech Research LLC acquired a new position in Public Service Enterprise Group (NYSE:PEG), purchasing 5,789 shares valued at approximately $300,000 in Q2. Other institutional investors also increased their stakes, with TD Asset Management growing its position by 16.6%. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a target price of $60.46. CEO Ralph A. Larossa and EVP Tamara Louise Linde recently sold shares, with Larossa retaining 148,892 shares valued at about $4.01 million.
Scientech Research LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,789 shares of the utilities provider's stock, valued at approximately $427,000.
Other hedge funds have also bought and sold shares of the company. TD Asset Management Inc grew its position in shares of Public Service Enterprise Group by 16.6% during the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider's stock worth $23,047,000 after buying an additional 53,577 shares during the period. QRG Capital Management Inc. boosted its position in shares of Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider's stock worth $5,227,000 after purchasing an additional 15,505 shares in the last quarter. CWM LLC grew its stake in shares of Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider's stock valued at $1,532,000 after buying an additional 8,723 shares during the period. Czech National Bank increased its position in Public Service Enterprise Group by 8.3% in the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider's stock valued at $6,995,000 after buying an additional 7,235 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Public Service Enterprise Group by 145.5% during the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider's stock worth $4,303,000 after buying an additional 38,188 shares during the period. Institutional investors own 73.34% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Scotiabank boosted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 5th. Jefferies Financial Group started 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 on the stock. Royal Bank of Canada lifted their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an "outperform" rating in a report on Monday, July 15th. Finally, UBS Group boosted their target price on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 24th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and a consensus target price of $81.46.
Get Our Latest Research Report on Public Service Enterprise Group
Insider Buying and Selling at Public Service Enterprise Group
In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company's stock, valued at approximately $12,014,095.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's 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 directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares of the company's stock, valued at approximately $4,610,217.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,068 shares of company stock valued at $2,406,965. Company insiders own 0.57% of the company's stock.
Public Service Enterprise Group Stock Up 0.9 %
PEG stock opened at $88.25 on Monday. The stock has a market cap of $43.96 billion, a P/E ratio of 24.45, a P/E/G ratio of 3.20 and a beta of 0.60. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The stock's fifty day simple moving average is $81.04 and its two-hundred day simple moving average is $74.49. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $88.86.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $2.42 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.
Public Service Enterprise Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.72%. Public Service Enterprise Group's payout ratio is 66.48%.
About Public Service Enterprise Group
(Free Report)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.
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