AlphaQuest LLC Has $1.57 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

AlphaQuest LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 927,850.0% during the 4th quarter, Holdings Channel reports. The fund owned 18,559 shares of the utilities provider’s stock after acquiring an additional 18,557 shares during the quarter. AlphaQuest LLC’s holdings in Public Service Enterprise Group were worth $1,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Foundations Investment Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after acquiring an additional 18,627 shares in the last quarter. DRW Securities LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $8,244,000. Cullen Investment Group LTD. lifted its holdings in Public Service Enterprise Group by 65.3% during the 4th 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 in the last quarter. Arvest Bank Trust Division acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in Public Service Enterprise Group during the 4th quarter worth $2,565,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

PEG opened at $79.10 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The company has a fifty day simple moving average of $84.27 and a 200 day simple moving average of $86.07. The stock has a market cap of $39.44 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Analysts Set New Price Targets

Several research analysts have issued reports on PEG shares. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Bank of America reduced their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Scotiabank increased their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. 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 stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $89.83.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by company 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.