Single Point Partners LLC Buys Shares of 3,784 Public Service Enterprise Group Incorporated (NYSE:PEG)

Single Point Partners LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,784 shares of the utilities provider's stock, valued at approximately $320,000.

A number of other hedge funds also recently added to or reduced their stakes in PEG. Foundations Investment Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock valued at $7,403,000 after purchasing an additional 18,627 shares in the last quarter. DRW Securities LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth $8,244,000. Cullen Investment Group LTD. boosted its stake in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock valued at $2,270,000 after acquiring an additional 10,610 shares in the last quarter. Arvest Bank Trust Division acquired a new position in Public Service Enterprise Group in the third quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $2,565,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm'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 transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,712 shares of company stock valued at $317,644 in the last ninety days. Corporate insiders own 0.57% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PEG shares. Guggenheim reissued a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Barclays cut Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Scotiabank upped their target price 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. Finally, BMO Capital Markets upped their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and a consensus target price of $88.83.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded up $0.03 during trading hours on Friday, reaching $83.91. 744,908 shares of the company's stock were exchanged, compared to its average volume of 2,139,809. The company has a market cap of $41.81 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company's 50 day moving average is $85.31 and its two-hundred day moving average is $85.64. Public Service Enterprise Group Incorporated has a 1 year low of $58.96 and a 1 year high of $95.22. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 3.00%. This is an increase 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 58.97%.

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.