Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 9.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,168 shares of the utilities provider’s stock after purchasing an additional 446 shares during the quarter. Fisher Asset Management LLC’s holdings in Public Service Enterprise Group were worth $362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 16.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,041 shares of the utilities provider’s stock valued at $72,000 after purchasing an additional 148 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Public Service Enterprise Group by 2.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,168 shares of the utilities provider’s stock valued at $412,000 after purchasing an additional 150 shares during the last quarter. Intrust Bank NA lifted its stake in shares of Public Service Enterprise Group by 4.6% in the 4th quarter. Intrust Bank NA now owns 3,602 shares of the utilities provider’s stock valued at $240,000 after purchasing an additional 158 shares during the last quarter. Capital Asset Advisory Services LLC lifted its stake in shares of Public Service Enterprise Group by 2.5% in the 4th quarter. Capital Asset Advisory Services LLC now owns 6,757 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 166 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC lifted its stake in shares of Public Service Enterprise Group by 2.4% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 7,170 shares of the utilities provider’s stock valued at $478,000 after purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 70.82% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday. TheStreet lowered Public Service Enterprise Group from a “b” rating to a “c” rating in a research note on Monday, June 13th. StockNews.com lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Wednesday. Mizuho cut their price objective on Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Finally, Barclays cut their price objective on Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $70.36.

Insider Transactions at Public Service Enterprise Group

In other news, COO Ralph A. Larossa sold 1,054 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $65.75, for a total transaction of $69,300.50. Following the completion of the transaction, the chief operating officer now directly owns 62,313 shares of the company’s stock, valued at approximately $4,097,079.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,054 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $65.75, for a total value of $69,300.50. Following the completion of the transaction, the chief operating officer now owns 62,313 shares in the company, valued at $4,097,079.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $64.15, for a total transaction of $633,994.45. Following the completion of the transaction, the chief executive officer now directly owns 447,656 shares of the company’s stock, valued at $28,717,132.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,357 shares of company stock valued at $2,133,525. 0.55% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $64.74 on Friday. The stock’s 50-day moving average is $63.21 and its two-hundred day moving average is $66.34. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.78 and a quick ratio of 0.79. Public Service Enterprise Group Incorporated has a 1-year low of $58.19 and a 1-year high of $75.61. The company has a market cap of $32.32 billion, a price-to-earnings ratio of -33.03, a price-to-earnings-growth ratio of 5.32 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). Public Service Enterprise Group had a positive return on equity of 13.25% and a negative net margin of 10.59%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company earned $0.70 EPS. Public Service Enterprise Group’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.47 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, September 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.34%. Public Service Enterprise Group’s dividend payout ratio is currently -110.20%.

Public Service Enterprise Group Company Profile

(Get Rating)

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 PSEG Power. The PSE&G segment transmits electricity; 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.

See Also

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

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