one8zero8 LLC Makes New $262,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

one8zero8 LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,100 shares of the utilities provider’s stock, valued at approximately $262,000.

Other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC grew its stake in shares of Public Service Enterprise Group by 5.2% during the fourth quarter. Natixis Advisors LLC now owns 218,849 shares of the utilities provider’s stock worth $18,491,000 after buying an additional 10,786 shares during the last quarter. Copperwynd Financial LLC boosted its holdings in shares of Public Service Enterprise Group by 1.4% during the 4th quarter. Copperwynd Financial LLC now owns 10,714 shares of the utilities provider’s stock valued at $905,000 after acquiring an additional 145 shares in the last quarter. Catalyst Funds Management Pty Ltd grew its position in Public Service Enterprise Group by 157.1% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 5,400 shares of the utilities provider’s stock worth $456,000 after acquiring an additional 3,300 shares during the last quarter. LBP AM SA increased its holdings in Public Service Enterprise Group by 382.9% in the 4th quarter. LBP AM SA now owns 13,496 shares of the utilities provider’s stock worth $1,140,000 after purchasing an additional 10,701 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new position in Public Service Enterprise Group in the fourth quarter valued at about $2,716,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 2.3 %

Shares of NYSE:PEG opened at $81.59 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 52-week low of $63.31 and a 52-week high of $95.22. The business’s 50 day simple moving average is $83.74 and its two-hundred day simple moving average is $86.02. The firm has a market cap of $40.68 billion, a P/E ratio of 20.05, a PEG ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PEG shares. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Scotiabank lifted 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 report on Thursday, December 12th. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

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.