Twin Tree Management LP Buys Shares of 22,521 Public Service Enterprise Group Incorporated (NYSE:PEG)

Twin Tree Management LP purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 22,521 shares of the utilities provider's stock, valued at approximately $1,903,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Center for Financial Planning Inc. grew its position in Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after buying an additional 120 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock worth $440,000 after purchasing an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA increased its position in shares of Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider's stock valued at $842,000 after purchasing an additional 123 shares during the period. United Asset Strategies Inc. raised its stake in shares of Public Service Enterprise Group by 2.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock valued at $416,000 after purchasing an additional 127 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock valued at $2,990,000 after purchasing an additional 139 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

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Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded down $0.30 during midday trading on Friday, reaching $83.00. The company's stock had a trading volume of 5,339,712 shares, compared to its average volume of 2,554,307. The business's fifty day simple moving average is $83.50 and its 200-day simple moving average is $86.02. 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 Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. The company has a market capitalization of $41.38 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the company posted $0.54 EPS. The company's quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS 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. Shareholders of record on Monday, March 10th will be issued 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 is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.04%. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares of the company's stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PEG. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a research note on Wednesday. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research note on Thursday, December 12th. Bank of America lowered their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, BMO Capital Markets increased their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and a consensus price target 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.