Enhancing Capital LLC Invests $676,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Enhancing Capital LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,000 shares of the utilities provider’s stock, valued at approximately $676,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $35,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $39,000. Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $54,000. Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $57,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 0.9 %

NYSE:PEG opened at $82.23 on Tuesday. Public Service Enterprise Group Incorporated has a 12-month low of $63.31 and a 12-month high of $95.22. 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 business has a 50 day simple moving average of $83.67 and a 200 day simple moving average of $86.03. The firm has a market capitalization of $41.00 billion, a P/E ratio of 20.20, a P/E/G ratio of 2.78 and a beta of 0.60.

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

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.06%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PEG shares. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. 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. Bank of America decreased their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Scotiabank lifted their target price on 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. Finally, Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $89.83.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.57% of the company’s stock.

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.