Enhancing Capital LLC Takes $676,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Enhancing Capital LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 8,000 shares of the utilities provider's stock, valued at approximately $676,000.

Several other large investors also recently bought and sold shares of PEG. OneDigital Investment Advisors LLC increased its stake in Public Service Enterprise Group by 2.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 19,382 shares of the utilities provider's stock worth $1,729,000 after buying an additional 390 shares in the last quarter. Empowered Funds LLC increased its stake in Public Service Enterprise Group by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider's stock worth $746,000 after buying an additional 597 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Public Service Enterprise Group by 5.2% in the third quarter. Mutual of America Capital Management LLC now owns 125,618 shares of the utilities provider's stock valued at $11,206,000 after purchasing an additional 6,193 shares in the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $257,000. Finally, Thrivent Financial for Lutherans grew its position in shares of Public Service Enterprise Group by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,188,556 shares of the utilities provider's stock valued at $106,031,000 after purchasing an additional 6,958 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

PEG has been the subject of a number of analyst reports. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Friday, March 14th. Bank of America dropped their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Scotiabank upped their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, Guggenheim restated a "buy" rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average target price of $89.65.

Public Service Enterprise Group Trading Down 0.4 %

NYSE:PEG traded down $0.30 during trading hours on Friday, reaching $83.00. 5,339,712 shares of the stock were exchanged, compared to its average volume of 2,554,307. 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 business has a 50-day moving average of $83.50 and a two-hundred day moving average of $86.02. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The company has a market capitalization of $41.38 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping 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 company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. The firm's revenue was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company 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 yield of 3.04%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is 71.19%.

Insiders Place Their Bets

In other Public Service Enterprise Group 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 directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by insiders.

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.