Kayne Anderson Capital Advisors LP Purchases 16,829 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kayne Anderson Capital Advisors LP increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,931 shares of the utilities provider's stock after buying an additional 16,829 shares during the period. Public Service Enterprise Group accounts for approximately 0.3% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 29th biggest holding. Kayne Anderson Capital Advisors LP's holdings in Public Service Enterprise Group were worth $12,668,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PEG. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group in the third quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $35,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $39,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth $54,000. Finally, Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $56,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $78.58 on Wednesday. The firm has a 50 day moving average of $84.04 and a 200-day moving average of $86.03. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $39.17 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22.

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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, topping analysts' consensus estimates of $0.83 by $0.01. The company 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 firm's revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share. As a group, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. 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. This represents a $2.52 annualized dividend and a dividend yield of 3.21%. Public Service Enterprise Group's dividend payout ratio is 71.19%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PEG. Guggenheim reiterated a "buy" rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. StockNews.com raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Scotiabank raised their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average price target of $89.83.

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.

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