Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 114,630 shares of the utilities provider’s stock after purchasing an additional 1,000 shares during the period. Public Service Enterprise Group comprises approximately 1.5% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 21st biggest holding. SPX Gestao de Recursos Ltda’s holdings in Public Service Enterprise Group were worth $9,685,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $35,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $35,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $39,000. Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $54,000. Finally, Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $78.50 on Tuesday. The stock’s 50-day moving average is $84.16 and its 200-day moving average is $86.05. The company has a market cap of $39.14 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEG. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Bank of America reduced their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Guggenheim reiterated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.83.

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.