Cognios Beta Neutral Large Cap Fund LP Buys Shares of 6,317 Public Service Enterprise Group Incorporated (NYSE:PEG)

Cognios Beta Neutral Large Cap Fund LP bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,317 shares of the utilities provider’s stock, valued at approximately $386,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Operose Advisors LLC boosted its stake in Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 435 shares during the period. CNB Bank bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $34,000. Bruce G. Allen Investments LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $36,000. Anchor Investment Management LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $37,000. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of Public Service Enterprise Group by 39.0% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock worth $42,000 after buying an additional 195 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.1 %

Shares of Public Service Enterprise Group stock traded up $0.74 during trading on Wednesday, hitting $67.23. The stock had a trading volume of 3,338,990 shares, compared to its average volume of 2,844,853. The stock has a 50 day simple moving average of $64.14 and a 200 day simple moving average of $62.14. The company has a market capitalization of $33.52 billion, a PE ratio of 12.96, a P/E/G ratio of 2.92 and a beta of 0.58. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is presently 46.78%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Evercore ISI boosted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Royal Bank of Canada boosted their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, Bank of America boosted their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.15.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,948 shares of company stock valued at $511,814. Corporate insiders own 0.18% of the company’s stock.

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.