Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,630 shares of the utilities provider’s stock after buying an additional 1,000 shares during the quarter. Public Service Enterprise Group makes up approximately 1.5% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 21st biggest position. SPX Gestao de Recursos Ltda’s holdings in Public Service Enterprise Group were worth $9,685,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC lifted its stake in Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after purchasing an additional 18,627 shares during the last quarter. DRW Securities LLC purchased a new stake in Public Service Enterprise Group during the third quarter worth approximately $8,244,000. Cullen Investment Group LTD. lifted its stake in Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after purchasing an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in Public Service Enterprise Group during the third quarter worth approximately $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $2,565,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PEG. Bank of America decreased their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.83.

Public Service Enterprise Group Trading Down 0.7 %

NYSE:PEG opened at $78.50 on Tuesday. The firm has a market cap of $39.14 billion, a P/E ratio of 19.29, a PEG ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock’s 50 day simple moving average is $84.16 and its 200-day simple moving average is $86.05. Public Service Enterprise Group Incorporated has a 12-month low of $63.31 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Public Service Enterprise Group Company 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.