6,246 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by AXQ Capital LP

AXQ Capital LP bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,246 shares of the utilities provider's stock, valued at approximately $528,000.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Public Service Enterprise Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock worth $1,051,744,000 after buying an additional 49,285 shares during the last quarter. FMR LLC lifted its position in Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after acquiring an additional 877,345 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $376,209,000. Jennison Associates LLC grew its holdings in shares of Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after purchasing an additional 1,882,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Public Service Enterprise Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider's stock worth $256,012,000 after purchasing an additional 78,452 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Remove Ads

Insider Activity 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 Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares of the company's stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PEG shares. Barclays cut Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a research note on Wednesday, March 19th. Finally, Bank of America dropped their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $89.65.

Public Service Enterprise Group Price Performance

Shares of PEG traded down $0.82 during mid-day trading on Thursday, reaching $80.72. 2,519,299 shares of the company's stock were exchanged, compared to its average volume of 2,534,130. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52-week low of $64.03 and a 52-week high of $95.22. The company has a market cap of $40.24 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.78 and a beta of 0.60. The company has a 50-day simple moving average of $83.31 and a two-hundred day simple moving average of $86.09.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) 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 return on equity of 10.70% and a net margin of 19.48%. The business's revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 earnings per share. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.12%. 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.