Edgestream Partners L.P. Buys 12,771 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Edgestream Partners L.P. lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 137.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 22,091 shares of the utilities provider’s stock after buying an additional 12,771 shares during the period. Edgestream Partners L.P.’s holdings in Public Service Enterprise Group were worth $1,383,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PEG. Impact Partnership Wealth LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $30,000. ICA Group Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $31,000. Clear Street Markets LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $31,000. Finally, Guardian Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $37,000. 72.28% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $64.01 on Tuesday. The stock has a market cap of $31.90 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 3.72 and a beta of 0.60. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.63 and a quick ratio of 0.45. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $65.46. The firm has a 50-day moving average of $60.40 and a two-hundred day moving average of $61.36.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.10. Public Service Enterprise Group had a net margin of 23.83% and a return on equity of 12.20%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.42 billion. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.45 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.56%. Public Service Enterprise Group’s payout ratio is presently 40.64%.

Analysts Set New Price Targets

PEG has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of Public Service Enterprise Group from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $59.00 to $63.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 1st. Mizuho lifted their price target on shares of Public Service Enterprise Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th. UBS Group dropped their price target on shares of Public Service Enterprise Group from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, October 4th. Finally, Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $63.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Hold” and an average target price of $64.05.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 4,122 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $63.00, for a total value of $259,686.00. Following the completion of the sale, the chief executive officer now owns 112,076 shares of the company’s stock, valued at approximately $7,060,788. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 4,522 shares of company stock valued at $283,500. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.