Centiva Capital LP Invests $496,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Centiva Capital LP acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,876 shares of the utilities provider's stock, valued at approximately $496,000.

Several other hedge funds and other institutional investors have also modified their holdings of PEG. Norges Bank purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $445,005,000. Raymond James Financial Inc. purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $376,209,000. Jennison Associates LLC raised its holdings in shares of Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock valued at $285,982,000 after buying an additional 1,882,667 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Public Service Enterprise Group by 604.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock worth $169,404,000 after purchasing an additional 1,719,614 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Public Service Enterprise Group by 234.1% during the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock worth $178,900,000 after purchasing an additional 1,483,662 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

PEG has been the topic of several analyst reports. StockNews.com downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Bank of America dropped their price objective 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. Guggenheim dropped their price objective on 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. Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Hold" and a consensus price target of $88.81.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $0.34 during trading on Wednesday, reaching $77.25. The stock had a trading volume of 3,171,067 shares, compared to its average volume of 2,719,134. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22. 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 stock has a market cap of $38.55 billion, a PE ratio of 18.98, a P/E/G ratio of 2.78 and a beta of 0.48. The firm's 50 day moving average price is $80.90 and its two-hundred day moving average price is $84.34.

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

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.26%. Public Service Enterprise Group's payout ratio is currently 68.85%.

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.