NEOS Investment Management LLC Has $2.60 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

NEOS Investment Management LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 31.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 30,785 shares of the utilities provider’s stock after acquiring an additional 7,365 shares during the quarter. NEOS Investment Management LLC’s holdings in Public Service Enterprise Group were worth $2,601,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after buying an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. increased its position in Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new position in Public Service Enterprise Group during the 3rd quarter valued at $2,860,000. Parsons Capital Management Inc. RI bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $2,565,000. Finally, Czech National Bank grew its position in Public Service Enterprise Group by 6.4% in the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock worth $9,127,000 after purchasing an additional 6,545 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $81.57 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $64.03 and a 1-year high of $95.22. The company has a 50 day moving average of $83.03 and a 200-day moving average of $86.06. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market cap of $40.67 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.78 and a beta of 0.60.

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. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’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 transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Guggenheim reaffirmed a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.65.

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.