LifeWealth Investments LLC Takes $342,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

LifeWealth Investments LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,052 shares of the utilities provider's stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Transce3nd LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $35,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $39,000. Finally, Optiver Holding B.V. bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $50,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 1.8%

Shares of PEG stock traded up $1.43 during midday trading on Friday, reaching $80.98. 12,247,488 shares of the stock were exchanged, compared to its average volume of 2,791,588. Public Service Enterprise Group Incorporated has a 1 year low of $71.89 and a 1 year high of $95.22. The company's 50 day moving average is $80.29 and its two-hundred day moving average is $83.67. 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 cap of $40.41 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The company had revenue of $3.22 billion for 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 firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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 given 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 dividend yield of 3.11%. Public Service Enterprise Group's payout ratio is 68.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PEG shares. Wells Fargo & Company lowered their target price on 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. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Morgan Stanley lowered their target price on Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Bank of America lowered their target price on 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. Finally, Barclays lowered their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $89.63.

Insider Activity

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

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.