Polymer Capital Management US LLC Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Polymer Capital Management US LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,000 shares of the utilities provider's stock, valued at approximately $2,535,000.

Other large investors have also bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth approximately $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the fourth quarter worth about $39,000. Nemes Rush Group LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $53,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $54,000. Finally, Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $56,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PEG shares. StockNews.com cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Tuesday. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday. Barclays cut their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research report on Wednesday, March 19th. Finally, Guggenheim restated a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $89.35.

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Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares of the company's stock, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Up 1.1 %

PEG stock traded up $0.91 during midday trading on Friday, reaching $82.14. The company's stock had a trading volume of 2,495,281 shares, compared to its average volume of 2,723,072. The firm has a market capitalization of $40.95 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a fifty day simple moving average of $81.94 and a two-hundred day simple moving average of $85.72.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its 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. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. Public Service Enterprise Group's dividend payout ratio (DPR) is 71.19%.

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.