Susquehanna Fundamental Investments LLC Increases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Susquehanna Fundamental Investments LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 88.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 430,669 shares of the utilities provider's stock after acquiring an additional 202,369 shares during the quarter. Public Service Enterprise Group comprises approximately 0.7% of Susquehanna Fundamental Investments LLC's portfolio, making the stock its 19th biggest holding. Susquehanna Fundamental Investments LLC owned about 0.09% of Public Service Enterprise Group worth $31,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gilbert & Cook Inc. grew its holdings in shares of Public Service Enterprise Group by 5.4% in the 4th quarter. Gilbert & Cook Inc. now owns 7,327 shares of the utilities provider's stock worth $448,000 after acquiring an additional 373 shares during the period. TD Asset Management Inc grew its holdings in Public Service Enterprise Group by 16.6% in the fourth quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider's stock valued at $23,047,000 after purchasing an additional 53,577 shares during the last quarter. Stifel Financial Corp increased its position in shares of Public Service Enterprise Group by 1.4% in the fourth quarter. Stifel Financial Corp now owns 149,711 shares of the utilities provider's stock valued at $9,155,000 after buying an additional 2,055 shares in the last quarter. Treasurer of the State of North Carolina increased its position in shares of Public Service Enterprise Group by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 220,696 shares of the utilities provider's stock valued at $13,496,000 after buying an additional 2,150 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its stake in Public Service Enterprise Group by 169,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 5,088 shares of the utilities provider's stock valued at $311,000 after acquiring an additional 5,085 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They issued a "hold" rating and a $85.00 price target on the stock. Bank of America increased their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Barclays boosted their price target on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, July 10th. Scotiabank increased their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and a consensus target price of $81.46.

Public Service Enterprise Group Trading Up 0.9 %

NYSE:PEG traded up $0.83 during trading hours on Friday, reaching $88.25. 1,963,843 shares of the company were exchanged, compared to its average volume of 2,829,948. The firm has a market cap of $43.96 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 3.20 and a beta of 0.60. The stock has a 50 day simple moving average of $81.04 and a 200 day simple moving average of $74.35. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $88.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the business posted $0.70 earnings per share. The company's quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.72%. Public Service Enterprise Group's dividend payout ratio (DPR) is 66.48%.

Insiders Place Their Bets

In related news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The disclosure for this sale can be found here. Insiders sold a total of 30,068 shares of company stock worth $2,406,965 over the last ninety days. 0.57% of the stock is owned by company 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.