Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,852 shares of the utilities provider’s stock after acquiring an additional 881 shares during the period. GAMMA Investing LLC’s holdings in Public Service Enterprise Group were worth $579,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Larson Financial Group LLC boosted its position in Public Service Enterprise Group by 25,500.0% during the second quarter. Larson Financial Group LLC now owns 1,280 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 1,275 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Public Service Enterprise Group by 16.1% during the 2nd quarter. TD Asset Management Inc now owns 469,548 shares of the utilities provider’s stock worth $34,606,000 after buying an additional 65,212 shares during the period. National Bank of Canada FI lifted its position in shares of Public Service Enterprise Group by 15.5% during the 2nd quarter. National Bank of Canada FI now owns 170,209 shares of the utilities provider’s stock valued at $12,532,000 after buying an additional 22,891 shares in the last quarter. Arizona State Retirement System grew its stake in Public Service Enterprise Group by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 144,543 shares of the utilities provider’s stock valued at $10,653,000 after acquiring an additional 1,543 shares during the period. Finally, Wellington Shields Capital Management LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth $66,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 1.4 %

Shares of PEG stock opened at $86.25 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The company’s 50-day moving average price is $87.80 and its 200-day moving average price is $83.50. The stock has a market cap of $42.97 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 3.18 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.78%. Public Service Enterprise Group’s payout ratio is 58.97%.

Analysts Set New Price Targets

Several research firms have issued reports on PEG. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Barclays decreased their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Morgan Stanley boosted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.17.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. This trade represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,798 shares of company stock valued at $1,588,631 over the last quarter. 0.57% of the stock is owned by insiders.

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.