MQS Management LLC Makes New $802,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

MQS Management LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,747 shares of the utilities provider's stock, valued at approximately $802,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $445,005,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Public Service Enterprise Group by 604.5% in 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 acquiring an additional 1,719,614 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Public Service Enterprise Group by 234.1% in the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock worth $178,900,000 after acquiring an additional 1,483,662 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Public Service Enterprise Group by 476.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock worth $75,652,000 after acquiring an additional 759,873 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Public Service Enterprise Group by 151.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,064,829 shares of the utilities provider's stock worth $89,967,000 after acquiring an additional 640,949 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.5%

Shares of PEG traded up $0.45 during midday trading on Monday, hitting $83.00. The company had a trading volume of 2,358,735 shares, compared to its average volume of 2,768,716. The company's 50-day simple moving average is $80.63 and its 200-day simple moving average is $82.12. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a market capitalization of $41.42 billion, a P/E ratio of 22.68, a P/E/G ratio of 2.96 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 1 year low of $73.72 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The business's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PEG shares. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. Guggenheim cut their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Morgan Stanley cut their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $86.00 to $97.00 in a research report on Monday, July 7th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $89.38.

Public Service Enterprise Group Company 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.