Fox Run Management L.L.C. Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Fox Run Management L.L.C. acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, Holdings Channel reports. The fund acquired 3,882 shares of the utilities provider’s stock, valued at approximately $328,000.

A number of other hedge funds have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group during the fourth quarter worth about $39,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter worth about $54,000. Financial Life Planners purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at about $56,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $56,000. Institutional investors and hedge funds 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 that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Stock Up 0.1 %

NYSE PEG opened at $81.48 on Thursday. The stock has a market cap of $40.62 billion, a PE ratio of 20.02, a P/E/G ratio of 2.78 and a beta of 0.60. The business has a 50 day moving average price of $83.31 and a two-hundred day moving average price of $86.09. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. 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 (NYSE:PEG) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share 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 analyst estimates of $2.03 billion. During the same period last year, the business earned $0.54 EPS. The business’s revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America decreased their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Finally, LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Public Service Enterprise Group Company 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.