Aigen Investment Management LP Acquires New Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Aigen Investment Management LP acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,634 shares of the utilities provider’s stock, valued at approximately $1,152,000.

Several other hedge funds also recently bought and sold shares of PEG. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $35,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $54,000. Financial Life Planners bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $56,000. Finally, Legacy Investment Solutions LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $59,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’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 sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PEG has been the subject of several research reports. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company reduced 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, February 26th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research note 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. Finally, Guggenheim reiterated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $81.68 on Thursday. Public Service Enterprise Group Incorporated has a 1-year low of $63.31 and a 1-year high of $95.22. The firm’s 50 day simple moving average is $84.54 and its two-hundred day simple moving average is $86.06. 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 company has a market capitalization of $40.70 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 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 for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is 71.19%.

About Public Service Enterprise Group

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.