Two Sigma Advisers LP Buys New Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Two Sigma Advisers LP bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,100 shares of the utilities provider’s stock, valued at approximately $600,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transce3nd LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $39,000. Finally, Optiver Holding B.V. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.5%

PEG stock opened at $82.33 on Wednesday. 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 capitalization of $41.08 billion, a PE ratio of 20.23, a PEG ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $71.89 and a 1-year high of $95.22. The business’s 50 day simple moving average is $80.33 and its 200 day simple moving average is $83.57.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the firm earned $1.31 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at $17,523,831.18. This represents a 0.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI dropped their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. Guggenheim lowered their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Barclays lowered their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley lowered their price target on Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $89.63.

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.