Dark Forest Capital Management LP Boosts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Dark Forest Capital Management LP raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,614 shares of the utilities provider’s stock after buying an additional 588 shares during the quarter. Dark Forest Capital Management LP’s holdings in Public Service Enterprise Group were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Foundations Investment Advisors LLC boosted its holdings in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. boosted its stake in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after buying an additional 10,610 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in Public Service Enterprise Group during the third quarter worth about $2,860,000. Parsons Capital Management Inc. RI purchased a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $2,565,000. Finally, Czech National Bank raised its position in Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock valued at $9,127,000 after acquiring an additional 6,545 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

PEG opened at $80.99 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $66.57 and a twelve month high of $95.22. The firm has a market capitalization of $40.38 billion, a PE ratio of 19.90, a PEG ratio of 2.78 and a beta of 0.52. 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 firm’s 50-day moving average price is $81.62 and its 200 day moving average price is $85.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business earned $0.54 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company reduced their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $89.35.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now owns 221,670 shares in the company, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by insiders.

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.