Sagefield Capital LP Has $4.81 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sagefield Capital LP lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 63.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,878 shares of the utilities provider's stock after purchasing an additional 22,180 shares during the quarter. Sagefield Capital LP's holdings in Public Service Enterprise Group were worth $4,806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $25,000. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter worth $35,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the fourth quarter worth $39,000. Finally, Optiver Holding B.V. acquired a new position in Public Service Enterprise Group during the fourth quarter worth $50,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares in the company, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on PEG. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday, April 10th. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Evercore ISI lowered their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Guggenheim decreased their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $88.81.

Public Service Enterprise Group Stock Up 1.1%

Shares of PEG opened at $79.33 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $71.89 and a 52-week high of $95.22. The company has a market capitalization of $39.58 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The stock has a fifty day simple moving average of $80.87 and a two-hundred day simple moving average of $84.15. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the business posted $1.31 EPS. Public Service Enterprise Group's revenue for the quarter was up 16.7% on a year-over-year basis. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is presently 68.85%.

Public Service Enterprise Group 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.

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