Trexquant Investment LP Makes New $9.09 Million Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Trexquant Investment LP acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 107,529 shares of the utilities provider's stock, valued at approximately $9,085,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in Public Service Enterprise Group by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after purchasing an additional 365,666 shares during the last quarter. Nemes Rush Group LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $53,000. HighPoint Advisor Group LLC boosted its stake in Public Service Enterprise Group by 6.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 9,720 shares of the utilities provider's stock valued at $814,000 after purchasing an additional 610 shares during the last quarter. Summit Financial LLC increased its holdings in shares of Public Service Enterprise Group by 11.7% in the 4th quarter. Summit Financial LLC now owns 6,033 shares of the utilities provider's stock worth $510,000 after purchasing an additional 630 shares in the last quarter. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $96,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

PEG traded down $0.91 during midday trading on Monday, reaching $76.82. The company had a trading volume of 1,777,140 shares, compared to its average volume of 2,686,125. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a market cap of $38.30 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.78 and a beta of 0.52. The business has a 50-day moving average of $82.34 and a two-hundred day moving average of $86.04.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was 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 presently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares of the company's stock, valued at $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEG. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Scotiabank upped their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research note on Thursday, December 12th. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $89.65.

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.