Axecap Investments LLC Acquires Shares of 34,632 Public Service Enterprise Group Incorporated (NYSE:PEG)

Axecap Investments LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 34,632 shares of the utilities provider's stock, valued at approximately $2,850,000. Public Service Enterprise Group accounts for approximately 2.4% of Axecap Investments LLC's holdings, making the stock its 18th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its position in shares of Public Service Enterprise Group by 22.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,360 shares of the utilities provider's stock worth $622,000 after purchasing an additional 1,334 shares during the period. Empowered Funds LLC lifted its position in shares of Public Service Enterprise Group by 9.6% in the 4th quarter. Empowered Funds LLC now owns 9,163 shares of the utilities provider's stock worth $774,000 after purchasing an additional 801 shares during the period. Savant Capital LLC lifted its position in shares of Public Service Enterprise Group by 8.0% in the 4th quarter. Savant Capital LLC now owns 10,276 shares of the utilities provider's stock worth $868,000 after purchasing an additional 763 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $35,000. Finally, Essex Financial Services Inc. increased its stake in Public Service Enterprise Group by 13.5% during the 4th quarter. Essex Financial Services Inc. now owns 6,452 shares of the utilities provider's stock valued at $545,000 after purchasing an additional 765 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

PEG traded up $0.72 during trading on Thursday, hitting $81.53. 3,355,994 shares of the company traded hands, compared to its average volume of 2,801,355. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $40.68 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22. The stock's fifty day moving average is $80.13 and its 200 day moving average is $83.17.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 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 revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business earned $1.31 earnings per share. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on PEG shares. Wells Fargo & Company decreased their price target on shares of 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. Evercore ISI decreased 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. Guggenheim decreased 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. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. Finally, Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $89.63.

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.