River Street Advisors LLC Raises Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

River Street Advisors LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,920 shares of the utilities provider’s stock after buying an additional 1,579 shares during the quarter. River Street Advisors LLC’s holdings in Public Service Enterprise Group were worth $996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEG. Fox Hill Wealth Management increased its stake in Public Service Enterprise Group by 4.0% during the first quarter. Fox Hill Wealth Management now owns 18,297 shares of the utilities provider’s stock valued at $1,222,000 after purchasing an additional 702 shares during the last quarter. Norwood Financial Corp increased its stake in Public Service Enterprise Group by 58.3% during the first quarter. Norwood Financial Corp now owns 1,263 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 465 shares during the last quarter. Edge Wealth Management LLC increased its stake in Public Service Enterprise Group by 0.9% during the first quarter. Edge Wealth Management LLC now owns 120,426 shares of the utilities provider’s stock valued at $8,042,000 after purchasing an additional 1,068 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Public Service Enterprise Group by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,833 shares of the utilities provider’s stock valued at $4,931,000 after acquiring an additional 1,555 shares during the period. Finally, PFS Partners LLC boosted its holdings in shares of Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 300 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded up $0.58 during trading hours on Friday, reaching $73.70. The stock had a trading volume of 5,941,282 shares, compared to its average volume of 2,773,985. The business’s fifty day moving average is $72.69 and its two-hundred day moving average is $65.79. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.06 and a beta of 0.59. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $75.82.

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

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.26%. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEG shares. Morgan Stanley reduced their price target on shares of 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. Royal Bank of Canada upped their price objective 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. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, June 17th. Mizuho upped 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 report on Thursday, May 23rd. Finally, Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.50.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction 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 completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 2,948 shares of company stock valued at $199,910. 0.57% of the stock is currently owned by company insiders.

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.