Two Sigma Advisers LP Invests $600,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Two Sigma Advisers LP bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,100 shares of the utilities provider's stock, valued at approximately $600,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Center for Financial Planning Inc. boosted its holdings in shares of Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock valued at $349,000 after acquiring an additional 120 shares in the last quarter. Spire Wealth Management boosted its holdings in Public Service Enterprise Group by 2.4% during the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock worth $440,000 after buying an additional 121 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Public Service Enterprise Group by 10.1% during the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock worth $128,000 after buying an additional 139 shares in the last quarter. Copperwynd Financial LLC lifted its holdings in shares of Public Service Enterprise Group by 1.4% in the fourth quarter. Copperwynd Financial LLC now owns 10,714 shares of the utilities provider's stock valued at $905,000 after purchasing an additional 145 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.5% in the fourth quarter. Duncker Streett & Co. Inc. now owns 4,553 shares of the utilities provider's stock valued at $385,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Down 0.7%

Shares of NYSE:PEG traded down $0.60 during trading on Thursday, reaching $79.79. The stock had a trading volume of 2,112,607 shares, compared to its average volume of 2,784,495. The business has a fifty day moving average price of $80.31 and a 200-day moving average price of $83.55. 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 stock has a market cap of $39.82 billion, a P/E ratio of 19.61, a PEG ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $71.89 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business posted $1.31 earnings per share. Public Service Enterprise Group's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PEG shares. Bank of America reduced their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Hold" and an average price target of $89.63.

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.