Haven Capital Group Inc. Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Haven Capital Group Inc. bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,975 shares of the utilities provider's stock, valued at approximately $758,000. Public Service Enterprise Group makes up about 0.7% of Haven Capital Group Inc.'s holdings, making the stock its 24th largest holding.

A number of other hedge funds have also modified their holdings of PEG. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $376,209,000. Jennison Associates LLC boosted its position in Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock valued at $285,982,000 after buying an additional 1,882,667 shares during the last quarter. FMR LLC boosted its position in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after buying an additional 877,345 shares during the last quarter. National Bank of Canada FI boosted its position in Public Service Enterprise Group by 376.3% in the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock valued at $72,321,000 after buying an additional 640,485 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Public Service Enterprise Group by 103.6% in the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider's stock valued at $80,313,000 after buying an additional 483,795 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

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Public Service Enterprise Group Stock Down 0.4 %

Shares of PEG traded down $0.30 during midday trading on Friday, hitting $83.00. The stock had a trading volume of 5,339,712 shares, compared to its average volume of 2,554,307. The company has a 50 day simple moving average of $83.50 and a two-hundred day simple 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 firm has a market cap of $41.38 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business posted $0.54 EPS. The company's revenue for the quarter was down 5.4% on a year-over-year basis. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.04%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 71.19%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Friday, March 14th. Scotiabank increased their price objective 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. Guggenheim reiterated a "buy" rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Morgan Stanley increased their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Wells Fargo & Company cut their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and an average target price of $89.65.

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.