Edge Financial Advisors LLC Acquires New Shares in Public Service Enterprise Group Incorporated (NYSE:PEG)

Edge Financial Advisors LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 1st quarter, HoldingsChannel.com reports. The fund bought 3,045 shares of the utilities provider’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Addison Advisors LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $31,000. Bruce G. Allen Investments LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $36,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth $36,000. Anchor Investment Management LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $37,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $41,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.1 %

Shares of PEG stock traded down $0.04 during mid-day trading on Friday, hitting $73.95. The company’s stock had a trading volume of 346,765 shares, compared to its average volume of 2,836,944. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $75.82. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The company’s fifty day simple moving average is $73.23 and its 200-day simple moving average is $66.07. The company has a market cap of $36.83 billion, a PE ratio of 20.50, a P/E/G ratio of 3.07 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm’s revenue was down 26.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.25%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their target price on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Scotiabank dropped their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada boosted their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Mizuho raised their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.42.

About Public Service Enterprise Group

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.