4,244 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by Stevens Capital Management LP

Key Points

• Stevens Capital Management LP has acquired a new stake in Public Service Enterprise Group, purchasing 4,244 shares valued at approximately $349,000 in the 1st quarter.
• CEO Ralph A. Larossa sold 1,387 shares of the company's stock, resulting in a 0.63% decrease in his position, while retaining a significant ownership of 218,328 shares.
• Public Service Enterprise Group declared a quarterly dividend of $0.63 per share, with an annualized dividend yield of 2.87%, to be paid on September 30th for stockholders of record on September 9th.

Stevens Capital Management LP purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 4,244 shares of the utilities provider's stock, valued at approximately $349,000.

A number of other hedge funds have also made changes to their positions in the stock. Transce3nd LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at $25,000. REAP Financial Group LLC raised its position in Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Optiver Holding B.V. bought a new position in Public Service Enterprise Group in the 4th quarter valued at $50,000. Finally, Nemes Rush Group LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock traded up $0.24 during trading on Wednesday, reaching $88.85. 477,943 shares of the stock traded hands, compared to its average volume of 2,884,904. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. The company has a market capitalization of $44.34 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 3.12 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The business has a fifty day simple moving average of $82.12 and a two-hundred day simple moving average of $82.15.

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 for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company earned $1.31 earnings per share. The business's quarterly revenue was up 16.7% compared to the same quarter last year. 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 will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.84%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PEG shares. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. BMO Capital Markets increased their price target on Public Service Enterprise Group from $83.00 to $84.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Guggenheim lowered their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI lowered their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $90.50.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction 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 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.