AXQ Capital LP Acquires Shares of 6,246 Public Service Enterprise Group Incorporated (NYSE:PEG)

AXQ Capital LP bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, HoldingsChannel.com reports. The fund bought 6,246 shares of the utilities provider’s stock, valued at approximately $528,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group in the 4th quarter worth about $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the fourth quarter worth about $39,000. Stonebridge Financial Group LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $54,000. Millstone Evans Group LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. Finally, Financial Life Planners bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PEG shares. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research report on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Finally, BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Down 0.4 %

Public Service Enterprise Group stock opened at $83.00 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The firm’s 50 day moving average price is $83.50 and its 200-day moving average price is $86.06. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market cap of $41.38 billion, a P/E ratio of 20.39, a PEG ratio of 2.78 and a beta of 0.60.

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

Public Service Enterprise Group Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

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.