6,354 Shares in Public Service Enterprise Group Inc. (PEG) Purchased by Truvestments Capital LLC

Truvestments Capital LLC acquired a new position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,354 shares of the utilities provider’s stock, valued at approximately $344,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Trust Co raised its holdings in shares of Public Service Enterprise Group by 18.6% during the 1st quarter. Trust Co now owns 6,129 shares of the utilities provider’s stock worth $308,000 after acquiring an additional 961 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in Public Service Enterprise Group by 3.3% during the 2nd quarter. Pinnacle Associates Ltd. now owns 30,718 shares of the utilities provider’s stock valued at $1,663,000 after buying an additional 993 shares during the period. Hudson Capital Management LLC raised its holdings in Public Service Enterprise Group by 20.5% during the 2nd quarter. Hudson Capital Management LLC now owns 5,886 shares of the utilities provider’s stock valued at $319,000 after buying an additional 1,000 shares during the period. State Treasurer State of Michigan raised its holdings in Public Service Enterprise Group by 0.7% during the 2nd quarter. State Treasurer State of Michigan now owns 149,622 shares of the utilities provider’s stock valued at $8,101,000 after buying an additional 1,000 shares during the period. Finally, Hartford Financial Management Inc. raised its holdings in Public Service Enterprise Group by 40.0% during the 2nd quarter. Hartford Financial Management Inc. now owns 3,500 shares of the utilities provider’s stock valued at $189,000 after buying an additional 1,000 shares during the period. 68.45% of the stock is currently owned by institutional investors and hedge funds.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 49,829 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $52.60, for a total value of $2,621,005.40. Following the transaction, the chairman now owns 578,910 shares of the company’s stock, valued at approximately $30,450,666. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 123,069 shares of company stock worth $6,430,191 in the last ninety days. 0.58% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group stock traded up $0.09 during mid-day trading on Friday, hitting $53.68. The company’s stock had a trading volume of 4,062,091 shares, compared to its average volume of 3,075,057. The company has a market capitalization of $26.68 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.86 and a beta of 0.32. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. Public Service Enterprise Group Inc. has a one year low of $46.19 and a one year high of $55.36.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.37 billion. Public Service Enterprise Group had a return on equity of 11.03% and a net margin of 23.69%. During the same quarter in the prior year, the company posted $0.62 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Inc. will post 3.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.35%. The ex-dividend date was Thursday, September 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.43%.

Several research firms recently weighed in on PEG. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley set a $59.00 price target on Public Service Enterprise Group and gave the company a “buy” rating in a report on Thursday. Citigroup upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday. Macquarie increased their price target on Public Service Enterprise Group from $55.50 to $57.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Finally, Deutsche Bank lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $55.31.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Further Reading: Market Capitalization in the Stock Market

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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