22,356 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Tounjian Advisory Partners LLC

Tounjian Advisory Partners LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,356 shares of the utilities provider’s stock, valued at approximately $1,840,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Transce3nd LLC bought a new position in Public Service Enterprise Group during the fourth quarter valued at about $25,000. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $25,000. REAP Financial Group LLC raised its holdings in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $35,000. Finally, OFI Invest Asset Management bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $39,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $80.19 on Monday. The firm has a market cap of $40.01 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The company’s fifty day moving average is $80.20 and its 200-day moving average is $83.30. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12 month low of $71.89 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.43. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.14%. Public Service Enterprise Group’s payout ratio is currently 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. This represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent research reports. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. Morgan Stanley reduced their target price on Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Bank of America dropped their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $89.63.

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.