Summit Trail Advisors LLC Purchases 1,434 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Summit Trail Advisors LLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 24,403 shares of the utilities provider’s stock after buying an additional 1,434 shares during the quarter. Summit Trail Advisors LLC’s holdings in Public Service Enterprise Group were worth $2,177,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PEG. Family Firm Inc. purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the second quarter worth approximately $35,000. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $48,000. Finally, Country Trust Bank purchased a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $52,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. This represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,739 shares of company stock valued at $2,467,753 in the last three months. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PEG. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Finally, Scotiabank boosted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Stock Up 0.1 %

NYSE:PEG opened at $92.40 on Monday. The firm has a market capitalization of $46.04 billion, a P/E ratio of 22.70, a PEG ratio of 3.39 and a beta of 0.61. The company’s fifty day moving average price is $88.38 and its 200-day moving average price is $80.73. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $93.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business posted $0.85 EPS. The company’s revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

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.