Susquehanna Fundamental Investments LLC Acquires Shares of 228,300 Public Service Enterprise Group Incorporated (NYSE:PEG)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 228,300 shares of the utilities provider’s stock, valued at approximately $15,246,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after purchasing an additional 7,103,657 shares in the last quarter. Norges Bank bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $215,074,000. Reaves W H & Co. Inc. boosted its position in shares of Public Service Enterprise Group by 73.9% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after purchasing an additional 667,773 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of Public Service Enterprise Group by 23.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after purchasing an additional 455,693 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Public Service Enterprise Group by 79.9% in the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after purchasing an additional 397,606 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

PEG traded down $0.25 during mid-day trading on Friday, reaching $76.28. 3,037,439 shares of the company traded hands, compared to its average volume of 2,698,226. The stock has a market capitalization of $37.99 billion, a P/E ratio of 21.13, a P/E/G ratio of 3.17 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The company’s fifty day moving average price is $73.98 and its 200-day moving average price is $66.72. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $77.46.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. Public Service Enterprise Group’s quarterly revenue was down 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $0.60 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.15%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Analysts Set New Price Targets

A number of analysts have recently commented on PEG shares. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $69.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 3rd. Mizuho boosted their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Barclays upped their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America upped their price objective on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.17.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the sale, the chief executive officer now directly owns 150,973 shares in the company, valued at approximately $10,500,172.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Company 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.