Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Cullen Investment Group LTD.

Cullen Investment Group LTD. lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 65.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 26,867 shares of the utilities provider's stock after acquiring an additional 10,610 shares during the period. Cullen Investment Group LTD.'s holdings in Public Service Enterprise Group were worth $2,270,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Heritage Wealth Management Inc. purchased a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $422,000. DRW Securities LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at $8,244,000. Arvest Bank Trust Division acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth about $2,860,000. Cerity Partners LLC grew its position in Public Service Enterprise Group by 36.1% during the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider's stock worth $8,575,000 after purchasing an additional 25,503 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at about $2,965,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,234 shares of company stock valued at $722,037. Corporate insiders own 0.57% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on PEG. Guggenheim reaffirmed a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Morgan Stanley upped their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Scotiabank lifted 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 report on Thursday, December 12th. Barclays lowered their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Finally, BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average price target of $89.17.

Public Service Enterprise Group Price Performance

PEG stock traded up $0.99 during trading on Tuesday, hitting $85.10. The stock had a trading volume of 1,497,230 shares, compared to its average volume of 1,962,479. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The company's 50-day moving average price is $87.49 and its two-hundred day moving average price is $84.13. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $42.40 billion, a P/E ratio of 20.91, a PEG ratio of 3.18 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business's revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Public Service Enterprise Group 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.