Versor Investments LP Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Versor Investments LP bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, Holdings Channel reports. The fund bought 9,227 shares of the utilities provider’s stock, valued at approximately $780,000.

A number of other institutional investors have also recently added to or reduced their stakes in PEG. Integrated Advisors Network LLC lifted its position in shares of Public Service Enterprise Group by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 7,407 shares of the utilities provider’s stock worth $661,000 after purchasing an additional 283 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $208,000. Pinnacle Associates Ltd. lifted its position in shares of Public Service Enterprise Group by 17.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 45,184 shares of the utilities provider’s stock worth $4,031,000 after purchasing an additional 6,629 shares during the period. HM Payson & Co. lifted its position in shares of Public Service Enterprise Group by 117.3% in the 3rd quarter. HM Payson & Co. now owns 3,477 shares of the utilities provider’s stock worth $310,000 after purchasing an additional 1,877 shares during the period. Finally, US Bancorp DE lifted its position in shares of Public Service Enterprise Group by 2.9% in the 3rd quarter. US Bancorp DE now owns 66,784 shares of the utilities provider’s stock worth $5,958,000 after purchasing an additional 1,873 shares during the period. 73.34% of the stock is owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s 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 sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $81.09 on Friday. The firm has a market capitalization of $40.40 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The firm has a fifty day simple moving average of $84.78 and a two-hundred day simple moving average of $85.99. 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 12 month low of $61.48 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (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 firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.11%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PEG shares. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. 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. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

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.