Soros Fund Management LLC Invests $2.54 Million in Public Service Enterprise Group Incorporated (NYSE:PEG)

Soros Fund Management LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,000 shares of the utilities provider's stock, valued at approximately $2,535,000.

Several other hedge funds have also bought and sold shares of PEG. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Public Service Enterprise Group by 8.5% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 8,527 shares of the utilities provider's stock worth $761,000 after purchasing an additional 670 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Public Service Enterprise Group in the third quarter worth approximately $4,403,000. Arvest Bank Trust Division bought a new position in Public Service Enterprise Group during the third quarter valued at approximately $2,860,000. Wilmington Savings Fund Society FSB raised its stake in shares of Public Service Enterprise Group by 30.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 10,189 shares of the utilities provider's stock worth $909,000 after acquiring an additional 2,384 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Public Service Enterprise Group by 26.9% in the 3rd quarter. Tidal Investments LLC now owns 16,306 shares of the utilities provider's stock worth $1,455,000 after acquiring an additional 3,461 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares of the company's stock, valued at $17,523,831.18. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 4,134 shares of company stock valued at $337,941 in the last three months. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Up 1.1 %

NYSE PEG traded up $0.86 during trading on Friday, hitting $79.52. The company had a trading volume of 2,203,339 shares, compared to its average volume of 2,714,129. The company's fifty day moving average is $81.20 and its 200-day moving average is $84.91. Public Service Enterprise Group Incorporated has a one year low of $69.71 and a one year high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company has a market cap of $39.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52.

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 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business posted $1.31 earnings per share. Public Service Enterprise Group's quarterly revenue was up 16.7% compared to the same quarter last year. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 71.19%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays reduced their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. StockNews.com cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday. Morgan Stanley lifted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Finally, BMO Capital Markets dropped their price objective on 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. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Hold" and an average price target of $88.81.

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.