Csenge Advisory Group Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Csenge Advisory Group grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,667 shares of the utilities provider’s stock after buying an additional 357 shares during the quarter. Csenge Advisory Group’s holdings in Public Service Enterprise Group were worth $512,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $31,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $36,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $36,000. Anchor Investment Management LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $37,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Public Service Enterprise Group by 1,866.7% during the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PEG shares. Evercore ISI upped their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Barclays upped their price target on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday. Mizuho upped their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Up 0.8 %

Shares of NYSE PEG traded up $0.59 during mid-day trading on Thursday, reaching $76.88. The company had a trading volume of 1,188,968 shares, compared to its average volume of 2,827,766. The stock has a fifty day moving average of $73.73 and a two-hundred day moving average of $66.50. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The company has a market capitalization of $38.29 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 3.10 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $77.46.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. Public Service Enterprise Group’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same period last year, the company earned $1.39 earnings per share. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.12%. Public Service Enterprise Group’s payout ratio is 66.48%.

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.