Susquehanna Fundamental Investments LLC Takes $15.25 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 228,300 shares of the utilities provider’s stock, valued at approximately $15,246,000.

A number of other large investors have also made changes to their positions in PEG. Addison Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $31,000. Bruce G. Allen Investments LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $36,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group in the first quarter worth about $36,000. Anchor Investment Management LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $37,000. Finally, Salomon & Ludwin LLC raised its position in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG traded down $0.25 during mid-day trading on Friday, hitting $76.28. 3,037,439 shares of the company traded hands, compared to its average volume of 2,698,226. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $77.46. The stock has a market capitalization of $37.99 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 3.17 and a beta of 0.59. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average of $73.98 and a 200 day moving average of $66.72.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. Public Service Enterprise Group’s revenue was down 26.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.39 earnings per share. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.60 per share. The ex-dividend date was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.15%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PEG. Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, June 17th. Mizuho upped their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Scotiabank decreased their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

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.