Sage Capital Advisors llc purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,891 shares of the utilities provider’s stock, valued at approximately $2,318,000. Public Service Enterprise Group accounts for approximately 1.7% of Sage Capital Advisors llc’s investment portfolio, making the stock its 23rd largest position.

Other large investors have also bought and sold shares of the company. Hennessy Advisors Inc. increased its stake in Public Service Enterprise Group by 2.9% in the first quarter. Hennessy Advisors Inc. now owns 721,290 shares of the utilities provider’s stock worth $31,989,000 after buying an additional 20,000 shares during the period. AMF Pensionsforsakring AB increased its stake in Public Service Enterprise Group by 29.6% in the first quarter. AMF Pensionsforsakring AB now owns 193,600 shares of the utilities provider’s stock worth $8,586,000 after buying an additional 44,200 shares during the period. Hamlin Capital Management LLC increased its stake in Public Service Enterprise Group by 22.3% in the first quarter. Hamlin Capital Management LLC now owns 1,785,999 shares of the utilities provider’s stock worth $79,209,000 after buying an additional 325,840 shares during the period. Breton Hill Capital Ltd. acquired a new stake in Public Service Enterprise Group during the first quarter worth $284,000. Finally, Russell Investments Group Ltd. increased its stake in Public Service Enterprise Group by 19.0% in the first quarter. Russell Investments Group Ltd. now owns 294,861 shares of the utilities provider’s stock worth $13,085,000 after buying an additional 47,132 shares during the period. 66.32% of the stock is owned by institutional investors and hedge funds.

Shares of Public Service Enterprise Group Incorporated (PEG) traded up 0.15% during midday trading on Friday, reaching $47.29. 1,167,877 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $44.92 and a 200-day moving average price of $44.41. The stock has a market cap of $23.92 billion, a P/E ratio of 53.13 and a beta of 0.38. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same quarter in the prior year, the company earned $0.57 earnings per share. Analysts forecast that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $0.43 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a yield of 3.64%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 193.26%.

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A number of research firms recently weighed in on PEG. BidaskClub raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.50 to $50.00 in a research note on Friday, August 11th. Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Citigroup Inc. reissued a “neutral” rating and set a $49.00 price target (up from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Finally, Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $48.21.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 1,500 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 23,400 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total value of $1,058,382.00. Following the completion of the transaction, the chairman now owns 748,474 shares of the company’s stock, valued at approximately $33,853,479.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,900 shares of company stock valued at $2,413,947. 0.61% of the stock is owned by corporate insiders.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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