R Squared Ltd Acquires Shares of 3,800 Public Service Enterprise Group Incorporated (NYSE:PEG)

R Squared Ltd bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,800 shares of the utilities provider’s stock, valued at approximately $321,000.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth about $48,000. Legacy Investment Solutions LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth about $59,000. Kimelman & Baird LLC bought a new position in Public Service Enterprise Group during the 2nd quarter valued at about $66,000. Finally, Fortitude Family Office LLC grew its stake in shares of Public Service Enterprise Group by 325.0% in the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 611 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock valued at $722,037 over the last ninety days. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on PEG shares. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, UBS Group increased their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Trading Down 0.5 %

Public Service Enterprise Group stock opened at $81.71 on Wednesday. Public Service Enterprise Group Incorporated has a 1 year low of $57.24 and a 1 year high of $95.22. The firm’s 50 day moving average price is $87.66 and its 200-day moving average price is $85.03. 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 stock has a market cap of $40.71 billion, a P/E ratio of 20.08, a PEG ratio of 2.82 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

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.