Aigen Investment Management LP Has $2.59 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Key Points

• Aigen Investment Management LP increased its stake in Public Service Enterprise Group by 130.7%, acquiring an additional 17,819 shares, bringing their total to 31,453 shares valued at $2.59 million.
• Public Service Enterprise Group reported a 15.8% increase in revenue year-over-year, with earnings of $0.77 per share, surpassing analysts' expectations of $0.70.
• The company declared a quarterly dividend of $0.63 per share, set to be distributed on September 30, with an annualized yield of 2.9% and a payout ratio of 63.64%.

Aigen Investment Management LP grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 130.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,453 shares of the utilities provider's stock after buying an additional 17,819 shares during the period. Aigen Investment Management LP's holdings in Public Service Enterprise Group were worth $2,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Centre Asset Management LLC grew its holdings in shares of Public Service Enterprise Group by 3.2% in the 1st quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock valued at $324,000 after buying an additional 121 shares during the period. FourThought Financial Partners LLC increased its position in shares of Public Service Enterprise Group by 2.8% during the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after acquiring an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Public Service Enterprise Group by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after acquiring an additional 130 shares in the last quarter. Apella Capital LLC boosted its holdings in Public Service Enterprise Group by 2.7% during the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after purchasing an additional 144 shares during the last quarter. Finally, Net Worth Advisory Group boosted its holdings in Public Service Enterprise Group by 5.6% during the first quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider's stock worth $231,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $87.70 on Friday. The company has a market capitalization of $43.77 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 3.05 and a beta of 0.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.65 and a current ratio of 1.00. The company has a 50-day simple moving average of $83.63 and a 200 day simple moving average of $82.20. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. Public Service Enterprise Group's revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.9%. Public Service Enterprise Group's payout ratio is presently 63.64%.

Analyst Upgrades and Downgrades

PEG has been the subject of several recent research reports. Barclays reduced their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Guggenheim cut their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Finally, Evercore ISI cut their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Hold" and an average price target of $90.95.

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.

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