Stevens Capital Management LP Buys New Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Stevens Capital Management LP bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 7,343 shares of the utilities provider’s stock, valued at approximately $449,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Operose Advisors LLC raised its position in Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 435 shares during the period. CNB Bank acquired a new position in Public Service Enterprise Group during the third quarter worth $34,000. Bruce G. Allen Investments LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth $36,000. Anchor Investment Management LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth $37,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in shares of Public Service Enterprise Group by 39.0% during the fourth 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PEG. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Scotiabank dropped their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday. Evercore ISI upped their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Barclays upped their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Royal Bank of Canada upped their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,948 shares of company stock valued at $511,814. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Up 1.3 %

PEG stock traded up $0.86 during mid-day trading on Thursday, hitting $68.09. 2,526,913 shares of the company were exchanged, compared to its average volume of 2,841,935. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $33.95 billion, a P/E ratio of 13.11, a PEG ratio of 2.91 and a beta of 0.58. The business has a fifty day simple moving average of $64.31 and a 200-day simple moving average of $62.18. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $68.31.

Public Service Enterprise Group (NYSE:PEG) last announced 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 company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. Public Service Enterprise Group’s revenue was down 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.52%. Public Service Enterprise Group’s dividend payout ratio is presently 46.78%.

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.