Xponance Inc. Boosts Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Xponance Inc. lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 78,445 shares of the utilities provider’s stock after purchasing an additional 2,736 shares during the period. Xponance Inc.’s holdings in Public Service Enterprise Group were worth $6,628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEG. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group during the fourth quarter worth about $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 purchased a new position in Public Service Enterprise Group during the fourth quarter worth about $54,000. Financial Life Planners purchased a new position in Public Service Enterprise Group during the fourth quarter worth about $56,000. Finally, Brown Lisle Cummings Inc. purchased a new position in Public Service Enterprise Group during the fourth quarter worth about $57,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $83.21 on Thursday. Public Service Enterprise Group Incorporated has a fifty-two week low of $63.54 and a fifty-two week high of $95.22. The firm’s 50 day moving average price is $83.57 and its 200 day moving average price is $86.02. The company has a market cap of $41.48 billion, a P/E ratio of 20.44, a PEG ratio of 2.78 and a beta of 0.60. 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 announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, research 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.03%. 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. Public Service Enterprise Group’s payout ratio is 71.19%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’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 transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on PEG shares. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Bank of America reduced their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.27.

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.