Sherbrooke Park Advisers LLC Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sherbrooke Park Advisers LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,675 shares of the utilities provider's stock, valued at approximately $648,000.

A number of other hedge funds also recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC lifted its stake in Public Service Enterprise Group by 6.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,248 shares of the utilities provider's stock worth $359,000 after acquiring an additional 242 shares during the period. Assenagon Asset Management S.A. lifted its stake in Public Service Enterprise Group by 44.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 159,345 shares of the utilities provider's stock worth $13,463,000 after acquiring an additional 49,105 shares during the period. Kathmere Capital Management LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $215,000. Park Avenue Securities LLC lifted its stake in Public Service Enterprise Group by 4.3% in the fourth quarter. Park Avenue Securities LLC now owns 26,020 shares of the utilities provider's stock worth $2,198,000 after acquiring an additional 1,065 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Public Service Enterprise Group by 0.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 42,728 shares of the utilities provider's stock worth $3,610,000 after acquiring an additional 212 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Down 0.5%

Public Service Enterprise Group stock traded down $0.37 during mid-day trading on Thursday, reaching $77.52. The stock had a trading volume of 1,048,019 shares, compared to its average volume of 2,740,065. The company has a market capitalization of $38.68 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.78 and a beta of 0.48. The company has a 50-day moving average price of $80.80 and a two-hundred day moving average price of $83.95. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion for 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%. Public Service Enterprise Group's revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEG. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research report on Wednesday, March 19th. Guggenheim decreased their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets decreased 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 note on Thursday, April 10th. Finally, Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $88.88.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company's stock.

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.