Traphagen Investment Advisors LLC Purchases 804 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Traphagen Investment Advisors LLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,231 shares of the utilities provider’s stock after purchasing an additional 804 shares during the quarter. Public Service Enterprise Group accounts for about 0.5% of Traphagen Investment Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Traphagen Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $4,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. REAP Financial Group LLC lifted its holdings in Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth $39,000. Finally, Optiver Holding B.V. purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth $50,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Down 0.8%

Shares of PEG opened at $80.89 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.25 and a fifty-two week high of $95.22. The stock has a market capitalization of $40.36 billion, a PE ratio of 19.87, a P/E/G ratio of 2.78 and a beta of 0.48. The company’s fifty day moving average is $80.29 and its 200 day moving average is $82.84.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. Sell-side analysts expect 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, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 68.85%.

Analysts Set New Price Targets

Several equities analysts have recently commented on PEG shares. Bank of America lowered their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Evercore ISI lowered their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Finally, Guggenheim reduced their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $89.63.

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 business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

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.