Xponance Inc. boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 102.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,375 shares of the utilities provider’s stock after buying an additional 50,862 shares during the quarter. Xponance Inc.’s holdings in Public Service Enterprise Group were worth $6,150,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. Destiny Wealth Partners LLC increased its position in shares of Public Service Enterprise Group by 304.5% during the 3rd quarter. Destiny Wealth Partners LLC now owns 453 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 341 shares during the last quarter. Boyd Watterson Asset Management LLC OH acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $27,000. Romano Brothers AND Company acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $30,000. CI Investments Inc. increased its position in shares of Public Service Enterprise Group by 990.2% during the 3rd quarter. CI Investments Inc. now owns 665 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 604 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Public Service Enterprise Group by 112.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 725 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 383 shares during the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.
Public Service Enterprise Group Stock Performance
PEG opened at $62.45 on Friday. The business has a fifty day simple moving average of $60.17 and a 200 day simple moving average of $59.69. The company has a market capitalization of $31.15 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 4.17 and a beta of 0.55. Public Service Enterprise Group Incorporated has a 1 year low of $52.51 and a 1 year high of $75.61. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.64 and a quick ratio of 0.50.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its earnings results on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.54 billion. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current year.
Public Service Enterprise Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 10th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.65%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, March 9th. Public Service Enterprise Group’s dividend payout ratio is presently 110.68%.
Insider Activity
In other news, COO Eric Carr sold 7,105 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $57.63, for a total transaction of $409,461.15. Following the completion of the sale, the chief operating officer now directly owns 6,482 shares in the company, valued at approximately $373,557.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on PEG shares. Mizuho lowered their price target on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, March 13th. Guggenheim reduced their target price on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, February 22nd. Morgan Stanley reduced their target price on Public Service Enterprise Group from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, March 21st. StockNews.com started coverage on Public Service Enterprise Group in a research note on Thursday, March 16th. They set a “hold” rating for the company. Finally, TheStreet upgraded Public Service Enterprise Group from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.56.
Public Service Enterprise Group Profile
Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.
Further Reading
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