Haven Capital Group Inc. Takes $758,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Haven Capital Group Inc. purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,975 shares of the utilities provider’s stock, valued at approximately $758,000. Public Service Enterprise Group comprises 0.7% of Haven Capital Group Inc.’s investment portfolio, making the stock its 24th largest position.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock worth $1,051,744,000 after buying an additional 49,285 shares during the last quarter. FMR LLC grew its position in Public Service Enterprise Group by 19.4% in 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. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $376,209,000. Jennison Associates LLC raised its position in 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 valued at $285,982,000 after purchasing an additional 1,882,667 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Public Service Enterprise Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider’s stock valued at $256,012,000 after purchasing an additional 78,452 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of several analyst reports. Barclays downgraded 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 research report on Monday, January 27th. BMO Capital Markets boosted their price objective on shares of 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. Scotiabank raised their target price 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 reiterated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.83.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $82.23 on Tuesday. The firm’s 50 day simple moving average is $83.67 and its 200-day simple moving average is $86.03. 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 one year low of $63.31 and a one year high of $95.22. The firm has a market cap of $41.00 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. 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. This represents a $2.52 dividend on an annualized basis and a yield of 3.06%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Insiders Place Their Bets

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 shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is 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.