Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Position Trimmed by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 46.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 443,499 shares of the utilities provider’s stock after selling 388,517 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Public Service Enterprise Group were worth $37,471,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PEG. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $35,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $35,000. Stonebridge Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $54,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $56,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $59,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $83.23 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 stock has a market capitalization of $41.47 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The company has a 50 day moving average price of $84.91 and a two-hundred day moving average price of $86.05. Public Service Enterprise Group Incorporated has a 12-month low of $59.29 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) 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 net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. As a group, equities analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. Public Service Enterprise Group’s payout ratio is 61.92%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEG shares. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.