Simon Quick Advisors LLC Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Simon Quick Advisors LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,740 shares of the utilities provider’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Evergreen Capital Management LLC purchased a new stake in Public Service Enterprise Group in the second quarter valued at approximately $229,000. Marshall Wace LLP lifted its position in Public Service Enterprise Group by 1,390.3% during the second quarter. Marshall Wace LLP now owns 222,054 shares of the utilities provider’s stock worth $16,365,000 after buying an additional 207,154 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Public Service Enterprise Group by 60.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 95,488 shares of the utilities provider’s stock worth $7,037,000 after acquiring an additional 35,993 shares during the period. Toronto Dominion Bank lifted its stake in Public Service Enterprise Group by 58.4% during the second quarter. Toronto Dominion Bank now owns 256,277 shares of the utilities provider’s stock worth $18,888,000 after purchasing an additional 94,443 shares in the last quarter. Finally, AXA S.A. grew its stake in shares of Public Service Enterprise Group by 4.9% during the second quarter. AXA S.A. now owns 169,456 shares of the utilities provider’s stock worth $12,489,000 after purchasing an additional 7,982 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock worth $722,037 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 0.1 %

Shares of NYSE:PEG opened at $88.04 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. The stock has a market capitalization of $43.86 billion, a PE ratio of 21.63, a P/E/G ratio of 2.82 and a beta of 0.65. The firm has a fifty day moving average price of $87.82 and a 200 day moving average price of $84.77. Public Service Enterprise Group Incorporated has a 1 year low of $56.91 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data 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 return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.73%. Public Service Enterprise Group’s payout ratio is 58.97%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays dropped their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. UBS Group raised their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank raised their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Evercore ISI raised their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.17.

Public Service Enterprise Group 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.