Arvest Investments Inc. Takes $2.11 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Arvest Investments Inc. acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 34,479 shares of the utilities provider's stock, valued at approximately $2,108,000.

Several other large investors have also made changes to their positions in the business. Union Savings Bank acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $28,000. ICA Group Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $31,000. Clear Street Markets LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $31,000. Operose Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 435 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $36,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 0.8 %

Public Service Enterprise Group stock traded down $0.53 during midday trading on Thursday, hitting $66.11. 2,445,349 shares of the stock were exchanged, compared to its average volume of 2,946,848. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $67.51. The stock has a market capitalization of $32.96 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 2.90 and a beta of 0.58. The stock's 50-day simple moving average is $62.01 and its 200 day simple moving average is $61.36. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.45 billion. During the same period last year, the business earned $0.64 earnings per share. Public Service Enterprise Group's revenue was down 17.0% compared to the same quarter last year. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, March 7th. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.63%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 46.78%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company's stock, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares of the company's stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders sold a total of 7,948 shares of company stock worth $510,300 over the last three months. Insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, March 7th. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. TheStreet upgraded shares of Public Service Enterprise Group from a "c+" rating to a "b-" rating in a research report on Wednesday, March 6th. BMO Capital Markets reduced their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a "market perform" rating for the company in a research report on Tuesday, February 27th. Finally, Morgan Stanley restated an "overweight" rating and set a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.