GAMMA Investing LLC Grows Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

GAMMA Investing LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8,465.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 586,881 shares of the utilities provider's stock after acquiring an additional 580,029 shares during the period. GAMMA Investing LLC owned 0.12% of Public Service Enterprise Group worth $48,300,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock worth $5,134,882,000 after acquiring an additional 492,517 shares in the last quarter. Geode Capital Management LLC increased its position in Public Service Enterprise Group by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after buying an additional 365,666 shares in the last quarter. Invesco Ltd. increased its position in Public Service Enterprise Group by 10.2% during the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock valued at $551,323,000 after buying an additional 604,978 shares in the last quarter. Northern Trust Corp increased its position in Public Service Enterprise Group by 6.1% during the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock valued at $490,644,000 after buying an additional 335,135 shares in the last quarter. Finally, Norges Bank bought a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $445,005,000. Institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

PEG has been the subject of a number of analyst reports. Barclays reduced 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 research report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Bank of America reduced their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. BMO Capital Markets cut their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research note on Thursday, April 10th. Finally, Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $89.63.

Insider Transactions 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 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 completion of the transaction, the chief executive officer now owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded up $0.36 on Friday, reaching $80.19. The stock had a trading volume of 2,017,426 shares, compared to its average volume of 2,787,620. The stock has a market cap of $40.01 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 1 year low of $71.89 and a 1 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 company has a 50 day simple moving average of $80.20 and a 200 day simple moving average of $83.41.

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 (EPS) 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 firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the business posted $1.31 EPS. The company's revenue for the quarter was up 16.7% on a year-over-year basis. Equities research analysts expect 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 announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.14%. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

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.