Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Sagefield Capital LP

Sagefield Capital LP raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 113.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,542 shares of the utilities provider’s stock after acquiring an additional 17,298 shares during the quarter. Sagefield Capital LP’s holdings in Public Service Enterprise Group were worth $2,398,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PEG. Brighton Jones LLC raised its stake in shares of Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after acquiring an additional 131 shares during the period. Bryn Mawr Capital Management LLC raised its position in Public Service Enterprise Group by 0.5% in the second quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock valued at $1,905,000 after purchasing an additional 135 shares during the period. Crestwood Advisors Group LLC lifted its stake in shares of Public Service Enterprise Group by 4.1% during the second quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 153 shares in the last quarter. Evergreen Wealth Solutions LLC boosted its position in shares of Public Service Enterprise Group by 1.7% in the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock worth $648,000 after buying an additional 159 shares during the period. Finally, Kowal Investment Group LLC boosted its position in shares of Public Service Enterprise Group by 2.7% in the second quarter. Kowal Investment Group LLC now owns 5,981 shares of the utilities provider’s stock worth $441,000 after buying an additional 160 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The disclosure for this sale can be found here. Insiders sold a total of 30,068 shares of company stock valued at $2,406,965 in the last quarter. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of several recent research reports. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Monday, June 17th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Barclays raised their price target on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.85.

Public Service Enterprise Group Trading Up 1.3 %

Shares of NYSE PEG opened at $87.90 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock’s 50 day moving average price is $79.97 and its two-hundred day moving average price is $73.83. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $88.48. The stock has a market capitalization of $43.78 billion, a P/E ratio of 24.35, a PEG ratio of 3.09 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 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.