7,377 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by Argentarii LLC

Argentarii LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,377 shares of the utilities provider’s stock, valued at approximately $623,000.

Other hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC grew its stake in shares of Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after acquiring an additional 18,627 shares during the period. DRW Securities LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter valued at $8,244,000. Cullen Investment Group LTD. raised its holdings in Public Service Enterprise Group by 65.3% during the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after buying an additional 10,610 shares during the period. Arvest Bank Trust Division purchased a new stake in Public Service Enterprise Group during the 3rd quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $2,565,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $79.10 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market cap of $39.44 billion, a PE ratio of 19.43, a P/E/G ratio of 2.78 and a beta of 0.60. The business has a 50-day simple moving average of $84.27 and a two-hundred day simple moving average of $86.03. Public Service Enterprise Group Incorporated has a fifty-two week low of $63.31 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $0.54 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS 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. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Analysts Set New Price Targets

Several research firms recently weighed in on PEG. Guggenheim restated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Bank of America reduced their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company reduced their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Scotiabank increased 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 note on Thursday, December 12th. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $89.83.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.