Nebula Research & Development LLC Purchases New Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Nebula Research & Development 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 Form 13F filing with the SEC. The fund bought 5,257 shares of the utilities provider's stock, valued at approximately $444,000.

Several other large investors also recently bought and sold shares of PEG. Center for Financial Planning Inc. increased its position in shares of Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock valued at $349,000 after purchasing an additional 120 shares during the last quarter. Spire Wealth Management lifted its stake 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 purchasing an additional 121 shares during the last quarter. United Asset Strategies Inc. boosted its holdings in Public Service Enterprise Group by 2.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock valued at $416,000 after purchasing an additional 127 shares in the last quarter. Fifth Third Bancorp raised its holdings in Public Service Enterprise Group by 0.4% during the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock worth $2,990,000 after purchasing an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Public Service Enterprise Group by 10.1% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

PEG has been the subject of a number of research reports. 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 for the company in a research report on Monday, March 3rd. Morgan Stanley increased their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. BMO Capital Markets reduced their price target on shares of 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. StockNews.com cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Guggenheim lowered their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $88.81.

Public Service Enterprise Group Price Performance

PEG stock traded up $0.86 during midday trading on Friday, hitting $79.52. 2,203,339 shares of the stock were exchanged, compared to its average volume of 2,714,129. The stock's 50-day moving average price is $81.20 and its 200-day moving average price is $84.91. 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 stock has a market cap of $39.65 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a fifty-two week low of $69.71 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates 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 net margin of 19.48% and a return on equity of 10.70%. The company's revenue was up 16.7% on a year-over-year basis. During the same period last year, the company posted $1.31 EPS. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 3.17%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 4,134 shares of company stock worth $337,941. 0.19% of the stock is currently owned by insiders.

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.