HCR Wealth Advisors Buys Shares of 2,319 Public Service Enterprise Group Incorporated (NYSE:PEG)

HCR Wealth Advisors bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, Holdings Channel reports. The firm bought 2,319 shares of the utilities provider’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. LVW Advisors LLC boosted its holdings in Public Service Enterprise Group by 8.2% in the 3rd quarter. LVW Advisors LLC now owns 9,252 shares of the utilities provider’s stock valued at $825,000 after purchasing an additional 705 shares during the last quarter. Towerpoint Wealth LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at about $204,000. Merrion Investment Management Co LLC boosted its holdings in Public Service Enterprise Group by 4.6% in the 3rd quarter. Merrion Investment Management Co LLC now owns 11,300 shares of the utilities provider’s stock valued at $1,008,000 after purchasing an additional 500 shares during the last quarter. Cypress Wealth Services LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at about $228,000. Finally, Morton Capital Management LLC CA acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $245,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 1.2 %

Shares of NYSE:PEG opened at $87.66 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20. The company’s 50 day moving average is $83.66 and its two-hundred day moving average is $76.23. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The company has a market cap of $43.66 billion, a PE ratio of 24.28, a P/E/G ratio of 2.72 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts predict 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 was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PEG shares. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. UBS Group upped their price objective on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Barclays upped their price objective on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Scotiabank upped 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, BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.62.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,010 shares of company stock valued at $3,397,855. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group 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.