Bayesian Capital Management LP Purchases Shares of 6,300 Public Service Enterprise Group Incorporated (NYSE:PEG)

Bayesian Capital Management LP acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,300 shares of the utilities provider’s stock, valued at approximately $532,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. increased its position in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 120 shares during the period. Spire Wealth Management raised its stake in shares of Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after buying an additional 121 shares during the last quarter. United Asset Strategies Inc. raised its position in Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 127 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Public Service Enterprise Group by 0.4% during the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after purchasing an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Public Service Enterprise Group by 10.1% in the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock worth $128,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEG. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Bank of America decreased their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, BMO Capital Markets dropped their target price on 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $88.81.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $79.77 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a 50-day simple moving average of $81.09 and a 200 day simple moving average of $84.73. Public Service Enterprise Group Incorporated has a fifty-two week low of $71.49 and a fifty-two week high of $95.22. The company has a market cap of $39.80 billion, a PE ratio of 19.60, a P/E/G ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 68.85%.

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.