Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Lifted by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,785 shares of the utilities provider’s stock after acquiring an additional 7,365 shares during the quarter. NEOS Investment Management LLC’s holdings in Public Service Enterprise Group were worth $2,601,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at about $39,000. Stonebridge Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $54,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $56,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $56,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $81.57 on Friday. The company has a 50 day moving average price of $83.03 and a two-hundred day moving average price of $86.06. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22. The stock has a market capitalization of $40.67 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. As a group, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Scotiabank raised their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

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.