Graypoint LLC Invests $296,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Graypoint LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,010 shares of the utilities provider’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $33,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter worth $36,000. Salomon & Ludwin LLC lifted its stake in shares of Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares during the period. Finally, PFS Partners LLC increased its stake in 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 and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays raised their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Monday, June 17th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Finally, Mizuho raised their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $80.75 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $81.89. The firm has a market cap of $40.22 billion, a P/E ratio of 22.37, a P/E/G ratio of 3.00 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The business’s fifty day moving average is $77.41 and its two-hundred day moving average is $71.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data 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). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The company’s revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.97%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Public Service Enterprise Group Company Profile

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.