SageView Advisory Group LLC Invests $643,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

SageView Advisory Group LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,045 shares of the utilities provider’s stock, valued at approximately $643,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC lifted its position in Public Service Enterprise Group by 4.9% during the third quarter. Kestra Advisory Services LLC now owns 44,239 shares of the utilities provider’s stock valued at $2,518,000 after purchasing an additional 2,066 shares during the period. Rafferty Asset Management LLC lifted its position in Public Service Enterprise Group by 11.5% during the third quarter. Rafferty Asset Management LLC now owns 50,871 shares of the utilities provider’s stock valued at $2,895,000 after purchasing an additional 5,260 shares during the period. Korea Investment CORP lifted its position in Public Service Enterprise Group by 10.4% during the third quarter. Korea Investment CORP now owns 187,025 shares of the utilities provider’s stock valued at $10,644,000 after purchasing an additional 17,554 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Public Service Enterprise Group during the third quarter valued at approximately $778,000. Finally, Envestnet Asset Management Inc. lifted its position in Public Service Enterprise Group by 50.4% during the third quarter. Envestnet Asset Management Inc. now owns 837,034 shares of the utilities provider’s stock valued at $47,636,000 after purchasing an additional 280,515 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEG. Mizuho increased their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Bank of America upped their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company upped their target price 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. Finally, Evercore ISI upped their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. One research 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. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 3,148 shares of company stock valued at $212,750. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $73.30 on Wednesday. The firm has a fifty day moving average price of $71.41 and a 200-day moving average price of $65.21. 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 stock has a market cap of $36.51 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 3.02 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $75.82.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period last year, the company earned $1.39 earnings per share. Equities analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.27%. Public Service Enterprise Group’s payout ratio is 66.48%.

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.