EHP Funds Inc. Invests $232,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

EHP Funds Inc. bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,800 shares of the utilities provider’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Addison Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $31,000. Operose Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 435 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $36,000. Anchor Investment Management LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $37,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $42,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded down $0.95 during trading hours on Friday, reaching $72.88. 1,929,633 shares of the stock traded hands, compared to its average volume of 2,429,003. The company has a 50 day moving average price of $70.49 and a 200 day moving average price of $64.75. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $75.82. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $36.30 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 3.03 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the firm earned $1.39 EPS. The company’s revenue was down 26.5% on a year-over-year basis. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.29%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,948 shares of company stock valued at $520,814. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PEG has been the subject of several recent research reports. Barclays raised their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Bank of America lifted their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. Scotiabank lowered their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Mizuho raised their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.92.

View Our Latest Analysis on PEG

Public Service Enterprise Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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