Farmers & Merchants Trust Co of Chambersburg PA Buys 825 Shares of Public Service Enterprise Group Inc. (PEG)

Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,459 shares of the utilities provider’s stock after buying an additional 825 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Public Service Enterprise Group were worth $918,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Public Service Enterprise Group in the 1st quarter valued at about $1,287,000. Truvestments Capital LLC acquired a new position in shares of Public Service Enterprise Group in the 1st quarter valued at about $49,000. Calamos Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 1.0% in the 1st quarter. Calamos Advisors LLC now owns 106,655 shares of the utilities provider’s stock valued at $6,336,000 after purchasing an additional 1,075 shares during the period. Gradient Investments LLC lifted its stake in shares of Public Service Enterprise Group by 1,646.7% in the 1st quarter. Gradient Investments LLC now owns 147,262 shares of the utilities provider’s stock valued at $8,749,000 after purchasing an additional 138,831 shares during the period. Finally, Legacy Private Trust Co. lifted its stake in shares of Public Service Enterprise Group by 104.1% in the 1st quarter. Legacy Private Trust Co. now owns 77,992 shares of the utilities provider’s stock valued at $4,634,000 after purchasing an additional 39,773 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group stock traded up $0.20 during midday trading on Monday, reaching $60.09. The stock had a trading volume of 34,866 shares, compared to its average volume of 2,628,753. Public Service Enterprise Group Inc. has a 12 month low of $49.02 and a 12 month high of $60.36. The firm has a market capitalization of $30.38 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 2.92 and a beta of 0.41. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.71 and a quick ratio of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, February 27th. The utilities provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 14.83%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company posted $0.57 EPS. On average, sell-side analysts expect that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.13%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, March 7th. Public Service Enterprise Group’s payout ratio is presently 60.26%.

A number of research analysts have recently issued reports on PEG shares. Mizuho boosted their price objective on Public Service Enterprise Group from $54.00 to $61.50 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Wells Fargo & Co boosted their price objective on Public Service Enterprise Group from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Deutsche Bank downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective on the stock. in a research note on Thursday, February 28th. Finally, Wolfe Research raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 22nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $59.10.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $54.31, for a total transaction of $2,846,224.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stuart J. Black sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.07, for a total value of $354,420.00. Following the sale, the vice president now directly owns 24,981 shares of the company’s stock, valued at $1,475,627.67. The disclosure for this sale can be found here. Insiders sold a total of 163,220 shares of company stock valued at $9,362,076 over the last ninety days. 0.51% of the stock is currently owned by corporate insiders.

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Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and 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 to customers.

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

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