Aquila Investment Management LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 29,000 shares of the utilities provider's stock, valued at approximately $1,773,000. Public Service Enterprise Group accounts for 1.5% of Aquila Investment Management LLC's investment portfolio, making the stock its 22nd largest position.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. D.A. Davidson & CO. raised its stake in shares of Public Service Enterprise Group by 7.5% during the first quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider's stock valued at $256,000 after purchasing an additional 256 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Public Service Enterprise Group by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider's stock worth $92,310,000 after buying an additional 83,174 shares in the last quarter. Prudential PLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $798,000. Cetera Investment Advisers boosted its holdings in shares of Public Service Enterprise Group by 1.3% in the first quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider's stock valued at $1,793,000 after acquiring an additional 332 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $214,000. Institutional investors own 73.34% of the company's stock.
Public Service Enterprise Group Stock Down 0.9 %
NYSE PEG traded down $0.58 during trading on Friday, reaching $65.87. 2,016,987 shares of the company's stock were exchanged, compared to its average volume of 2,976,555. The company's fifty day simple moving average is $63.19 and its 200-day simple moving average is $61.69. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $67.51. The firm has a market capitalization of $32.84 billion, a PE ratio of 12.84, a P/E/G ratio of 2.88 and a beta of 0.58. 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, beating analysts' consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.45 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The business's revenue for the quarter was down 17.0% on a year-over-year basis. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.
Public Service Enterprise Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.64%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.57. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 46.78%.
Analyst Ratings Changes
Several brokerages have commented on PEG. Barclays boosted their price target on shares of Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, March 14th. Evercore ISI lifted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. Bank of America upped their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a "buy" rating in a report on Friday, March 22nd. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a "market perform" rating for the company in a research note on Tuesday, February 27th. Finally, TheStreet raised Public Service Enterprise Group from a "c+" rating to a "b-" rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.33.
View Our Latest Stock Report on Public Service Enterprise Group
Insider Activity at Public Service Enterprise Group
In other news, SVP Richard T. Thigpen sold 4,800 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of the business's stock in a transaction 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 sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares of the company's stock, valued at $10,111,270.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,948 shares of company stock valued at $510,300. Insiders own 0.57% of the company's stock.
Public Service Enterprise Group Profile
(
Free Report)
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.
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