Public Service Enterprise Group Incorporated (NYSE:PEG) Position Increased by AlphaQuest LLC

AlphaQuest LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 927,850.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,559 shares of the utilities provider’s stock after acquiring an additional 18,557 shares during the period. AlphaQuest LLC’s holdings in Public Service Enterprise Group were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PEG. Raymond James Financial Inc. purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $376,209,000. Jennison Associates LLC raised its holdings in shares of Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after acquiring an additional 1,882,667 shares in the last quarter. FMR LLC raised its holdings in shares of Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after acquiring an additional 877,345 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Public Service Enterprise Group by 376.3% during the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock worth $72,321,000 after acquiring an additional 640,485 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Public Service Enterprise Group by 103.6% during the fourth quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock valued at $80,313,000 after buying an additional 483,795 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on PEG shares. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Scotiabank raised their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.83.

Public Service Enterprise Group Stock Up 1.1 %

PEG stock opened at $79.10 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22. The company has a market cap of $39.44 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The business’s 50-day simple moving average is $84.27 and its 200 day simple moving average is $86.07. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate 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.