Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Sagefield Capital LP

Sagefield Capital LP boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 63.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 56,878 shares of the utilities provider’s stock after purchasing an additional 22,180 shares during the quarter. Sagefield Capital LP’s holdings in Public Service Enterprise Group were worth $4,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Center for Financial Planning Inc. increased its stake in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 120 shares in the last quarter. Spire Wealth Management grew its stake in Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after acquiring an additional 121 shares in the last quarter. United Asset Strategies Inc. grew its stake in Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 127 shares in the last quarter. Fifth Third Bancorp grew its stake in Public Service Enterprise Group by 0.4% during the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after acquiring an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 139 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $79.33 on Friday. The business’s fifty day moving average price is $80.87 and its two-hundred day moving average price is $84.15. Public Service Enterprise Group Incorporated has a fifty-two week low of $71.89 and a fifty-two week high of $95.22. The stock has a market capitalization of $39.58 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.18%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s payout ratio is 68.85%.

Analyst Upgrades and Downgrades

PEG has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets reduced their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. Barclays reduced their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Evercore ISI reduced their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, StockNews.com lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Hold” and a consensus target price of $88.81.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% 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.