Y Intercept Hong Kong Ltd Makes New $4.93 Million Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Y Intercept Hong Kong Ltd bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 58,294 shares of the utilities provider’s stock, valued at approximately $4,925,000.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at about $35,000. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $35,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $54,000. Financial Life Planners bought a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $57,000. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PEG shares. Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, UBS Group upped their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Trading Down 1.0 %

Shares of Public Service Enterprise Group stock opened at $83.82 on Monday. 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 firm’s 50 day simple moving average is $84.99 and its two-hundred day simple moving average is $85.99. Public Service Enterprise Group Incorporated has a 12-month low of $59.29 and a 12-month high of $95.22. The firm has a market capitalization of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is 61.92%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.

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.