Kayne Anderson Capital Advisors LP Raises Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kayne Anderson Capital Advisors LP raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,931 shares of the utilities provider’s stock after buying an additional 16,829 shares during the period. Public Service Enterprise Group comprises about 0.3% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 29th biggest holding. Kayne Anderson Capital Advisors LP’s holdings in Public Service Enterprise Group were worth $12,668,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PEG. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group during the 3rd quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $39,000. Stonebridge Financial Group LLC purchased a new position in Public Service Enterprise Group during the 4th quarter valued at $54,000. Finally, Financial Life Planners purchased a new position in Public Service Enterprise Group during the 4th quarter valued at $56,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $78.58 on Wednesday. The firm has a market cap of $39.17 billion, a P/E ratio of 19.31, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a 50 day moving average of $84.04 and a 200 day moving average of $86.03.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. 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 company posted $0.54 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.21%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research reports. Bank of America cut their target price 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. Wells Fargo & Company reduced their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Scotiabank upped their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $89.83.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.