HBK Sorce Advisory LLC Has $726,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

HBK Sorce Advisory LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,851 shares of the utilities provider’s stock after acquiring an additional 406 shares during the period. HBK Sorce Advisory LLC’s holdings in Public Service Enterprise Group were worth $726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEG. Family Firm Inc. acquired a new stake in Public Service Enterprise Group during the second quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group in the first quarter valued at $36,000. Salomon & Ludwin LLC raised its stake in 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 acquiring an additional 560 shares in the last quarter. Finally, PFS Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 300 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Mizuho upped their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Barclays upped their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a report on Friday. They issued a “hold” rating and a $85.00 target price on the stock. Scotiabank raised their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley boosted their price objective on Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.92.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $84.16 on Friday. The stock has a market cap of $41.93 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 2.99 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $84.18. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The business’s 50-day simple moving average is $78.81 and its 200 day simple moving average is $72.84.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.85%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Activity at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,068 shares of company stock worth $2,406,965. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group 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.