Empirical Finance LLC Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Empirical Finance LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,456 shares of the utilities provider’s stock after buying an additional 396 shares during the quarter. Empirical Finance LLC’s holdings in Public Service Enterprise Group were worth $1,437,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Centre Asset Management LLC lifted its position in Public Service Enterprise Group by 3.2% during the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 121 shares during the period. FourThought Financial Partners LLC raised its stake in Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after buying an additional 127 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Public Service Enterprise Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock valued at $3,523,000 after buying an additional 130 shares during the period. Apella Capital LLC boosted its stake in shares of Public Service Enterprise Group by 2.7% in the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider’s stock worth $443,000 after buying an additional 144 shares during the last quarter. Finally, Net Worth Advisory Group grew its holdings in shares of Public Service Enterprise Group by 5.6% in the first quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider’s stock worth $231,000 after acquiring an additional 148 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Sunday, July 20th. Barclays lowered their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $83.00 to $84.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. Finally, Guggenheim dropped 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 note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and a consensus price target of $90.50.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares of the company’s stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Up 0.8%

Shares of Public Service Enterprise Group stock opened at $87.66 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.20 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market capitalization of $43.74 billion, a P/E ratio of 23.95, a P/E/G ratio of 3.14 and a beta of 0.48. The company has a fifty day moving average of $81.79 and a 200 day moving average of $82.10.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. On average, sell-side 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 Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 2.87%. Public Service Enterprise Group’s payout ratio is 68.85%.

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.