Hexagon Capital Partners LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,501 shares of the utilities provider’s stock after selling 337 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Public Service Enterprise Group were worth $92,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of PEG. Destiny Wealth Partners LLC grew its stake in Public Service Enterprise Group by 304.5% during the 3rd quarter. Destiny Wealth Partners LLC now owns 453 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 341 shares in the last quarter. CI Investments Inc. grew its stake in shares of Public Service Enterprise Group by 990.2% in the 3rd quarter. CI Investments Inc. now owns 665 shares of the utilities provider’s stock valued at $37,000 after buying an additional 604 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Public Service Enterprise Group by 112.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 725 shares of the utilities provider’s stock valued at $41,000 after buying an additional 383 shares in the last quarter. CVA Family Office LLC grew its stake in shares of Public Service Enterprise Group by 46.8% in the 3rd quarter. CVA Family Office LLC now owns 800 shares of the utilities provider’s stock valued at $45,000 after buying an additional 255 shares in the last quarter. Finally, Clear Perspectives Financial Planning LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 70.67% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently commented on PEG shares. TheStreet raised Public Service Enterprise Group from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday, March 13th. Morgan Stanley reduced their target price on Public Service Enterprise Group from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday. Guggenheim reduced their target price on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. Finally, StockNews.com began coverage on Public Service Enterprise Group in a report on Thursday, March 16th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.56.
Public Service Enterprise Group Stock Down 0.7 %
Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current year.
Public Service Enterprise Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, March 9th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.54. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.02%. Public Service Enterprise Group’s payout ratio is 110.68%.
Insider Activity
In other news, COO Eric Carr sold 7,105 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $57.63, for a total transaction of $409,461.15. Following the sale, the chief operating officer now directly owns 6,482 shares in the company, valued at $373,557.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.57% of the stock is currently owned by company insiders.
Public Service Enterprise Group Company Profile
Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.
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