322,329 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 322,329 shares of the utilities provider’s stock, valued at approximately $27,234,000. Public Service Enterprise Group comprises 1.4% of Cinctive Capital Management LP’s investment portfolio, making the stock its 9th largest position. Cinctive Capital Management LP owned about 0.06% of Public Service Enterprise Group as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group during the fourth quarter worth about $35,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $39,000. Nemes Rush Group LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $53,000. Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $54,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $83.26 on Wednesday. The stock’s fifty day moving average is $82.77 and its 200-day moving average is $86.11. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 52 week low of $64.03 and a 52 week high of $95.22. The stock has a market capitalization of $41.51 billion, a PE ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company posted $0.54 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was 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 $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Wells Fargo & Company decreased 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 report on Wednesday, February 26th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. Finally, BMO Capital Markets upped their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.65.

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.