Bayesian Capital Management LP Invests $532,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bayesian Capital Management LP acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,300 shares of the utilities provider's stock, valued at approximately $532,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased 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 position in Public Service Enterprise Group in the fourth quarter valued at about $39,000. Optiver Holding B.V. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $50,000. Finally, Nemes Rush Group LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Buying and Selling 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 dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares of the company's stock, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Up 1.8 %

Shares of PEG opened at $79.77 on Wednesday. The firm has a 50-day moving average price of $81.09 and a 200 day moving average price of $84.73. Public Service Enterprise Group Incorporated has a 12-month low of $71.49 and a 12-month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $39.80 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the prior year, the business posted $1.31 EPS. The company's revenue was up 16.7% compared to the same quarter last year. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.16%. Public Service Enterprise Group's payout ratio is presently 68.85%.

Analyst Ratings Changes

Several research firms have recently issued reports on PEG. Guggenheim cut their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays decreased their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. StockNews.com downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $88.81.

About Public Service Enterprise Group

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.

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