Versor Investments LP Purchases Shares of 9,227 Public Service Enterprise Group Incorporated (NYSE:PEG)

Versor Investments LP 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 13F filing with the Securities and Exchange Commission. The firm bought 9,227 shares of the utilities provider’s stock, valued at approximately $780,000.

A number of other hedge funds also recently modified their holdings of the stock. First Command Advisory Services Inc. lifted its stake in shares of Public Service Enterprise Group by 116.7% during the 4th quarter. First Command Advisory Services Inc. now owns 765 shares of the utilities provider’s stock worth $65,000 after buying an additional 412 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $12,251,000. FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in shares of Public Service Enterprise Group by 81.7% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,183 shares of the utilities provider’s stock worth $438,000 after buying an additional 2,330 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Public Service Enterprise Group by 4.1% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 198,817 shares of the utilities provider’s stock worth $16,798,000 after buying an additional 7,800 shares during the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $448,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PEG. Wells Fargo & Company dropped their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. Scotiabank lifted their price objective on shares of 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. Guggenheim reiterated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets lifted their price objective 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. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Public Service Enterprise Group Price Performance

PEG stock opened at $81.09 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 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. The firm has a market cap of $40.40 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.78 and a beta of 0.64. The company’s 50-day moving average price is $84.78 and its two-hundred day moving average price is $85.99.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. On average, analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date 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 annualized dividend and a dividend yield of 3.11%. Public Service Enterprise Group’s payout ratio is 71.19%.

Insider Activity at Public Service Enterprise Group

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

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.