Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Xponance Inc.

Xponance Inc. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,445 shares of the utilities provider’s stock after purchasing an additional 2,736 shares during the quarter. Xponance Inc.’s holdings in Public Service Enterprise Group were worth $6,628,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PEG. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $39,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $54,000. Financial Life Planners acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG opened at $83.21 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a market cap of $41.48 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $63.54 and a 52-week high of $95.22. The firm’s fifty day simple moving average is $83.57 and its two-hundred day simple moving average is $86.02.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business 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 represents a $2.52 annualized dividend and a yield of 3.03%. 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 (DPR) is presently 71.19%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PEG shares. LADENBURG THALM/SH SH lowered 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 note on Wednesday. Guggenheim reiterated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Scotiabank increased their price objective 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 cut their price objective on shares of 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 price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.27.

Insider Transactions at Public Service Enterprise Group

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

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.