Fox Run Management L.L.C. Buys New Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Fox Run Management L.L.C. purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,882 shares of the utilities provider’s stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its position in shares of Public Service Enterprise Group by 16.2% during the third quarter. Advisors Asset Management Inc. now owns 10,433 shares of the utilities provider’s stock worth $931,000 after purchasing an additional 1,453 shares in the last quarter. Cerity Partners LLC grew its stake in Public Service Enterprise Group by 36.1% during the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after buying an additional 25,503 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Public Service Enterprise Group by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 60,864 shares of the utilities provider’s stock worth $5,430,000 after buying an additional 6,651 shares during the period. Fisher Asset Management LLC lifted its stake in Public Service Enterprise Group by 4.0% in the third quarter. Fisher Asset Management LLC now owns 7,342 shares of the utilities provider’s stock valued at $655,000 after buying an additional 283 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Public Service Enterprise Group by 307.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,674 shares of the utilities provider’s stock valued at $417,000 after acquiring an additional 3,526 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $81.48 on Thursday. The company has a market cap of $40.62 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one year high of $95.22. The business has a fifty day moving average of $83.31 and a two-hundred day moving average of $86.09. 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 (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business earned $0.54 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, analysts predict 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 company 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. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PEG. BMO Capital Markets upped their price target 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. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Bank of America lowered their price target 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. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley lifted their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.65.

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.