Trading Report: Today, United Asset Strategies Inc. Reached $237,000 position of Public Service Enterprise Group Inc. (PEG)

Today, United Asset Strategies Inc. Reached $237,000 position  of Public Service Enterprise Group Inc. (PEG)

United Asset Strategies Inc. increased its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 0.4% during the third quarter, Holdings Channel reports. The institutional investor owned 5,672 shares of the company’s stock after buying an additional 22 shares during the period. United Asset Strategies Inc.’s holdings in Public Service Enterprise Group were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PEG. Alpha Windward LLC increased its position in shares of Public Service Enterprise Group by 0.6% in the third quarter. Alpha Windward LLC now owns 4,762 shares of the company’s stock worth $199,000 after buying an additional 28 shares during the period. Silvercrest Asset Management Group LLC increased its position in Public Service Enterprise Group by 0.5% in the second quarter. Silvercrest Asset Management Group LLC now owns 6,976 shares of the company’s stock valued at $325,000 after buying an additional 33 shares during the last quarter. Beacon Trust Co. increased its position in Public Service Enterprise Group by 0.5% in the second quarter. Beacon Trust Co. now owns 8,751 shares of the company’s stock valued at $408,000 after buying an additional 44 shares during the last quarter. Synovus Financial Corp increased its position in Public Service Enterprise Group by 0.6% in the second quarter. Synovus Financial Corp now owns 9,326 shares of the company’s stock valued at $433,000 after buying an additional 53 shares during the last quarter. Finally, 1st Global Advisors Inc. increased its position in Public Service Enterprise Group by 1.3% in the third quarter. 1st Global Advisors Inc. now owns 5,178 shares of the company’s stock valued at $217,000 after buying an additional 66 shares during the last quarter. 66.43% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Inc. (NYSE:PEG) traded up 1.64% during midday trading on Friday, hitting $41.41. The stock had a trading volume of 216,883 shares. The stock has a market cap of $20.95 billion, a PE ratio of 16.30 and a beta of 0.28. Public Service Enterprise Group Inc. has a one year low of $36.80 and a one year high of $47.41. The firm has a 50 day moving average price of $40.98 and a 200 day moving average price of $43.45.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.05. Public Service Enterprise Group had a return on equity of 10.91% and a net margin of 13.99%. During the same period in the previous year, the company earned $0.80 EPS. Equities analysts expect that Public Service Enterprise Group Inc. will post $2.87 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.64 annualized dividend and a dividend yield of 4.03%. Public Service Enterprise Group’s dividend payout ratio is currently 64.57%.

PEG has been the subject of several research analyst reports. Goldman Sachs Group Inc. raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $47.00 in a research note on Monday, October 17th. Argus dropped their price objective on Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, September 20th. Barclays PLC raised their price objective on Public Service Enterprise Group from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, September 22nd. Jefferies Group reaffirmed a “hold” rating and issued a $43.50 price objective on shares of Public Service Enterprise Group in a research note on Tuesday, November 1st. Finally, Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $46.50.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 25,895 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $41.74, for a total value of $1,080,857.30. Following the transaction, the chairman now owns 738,182 shares of the company’s stock, valued at $30,811,716.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by company insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

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