Aquila Investment Management LLC Makes New $1.77 Million Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Aquila Investment Management LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 29,000 shares of the utilities provider’s stock, valued at approximately $1,773,000. Public Service Enterprise Group comprises 1.5% of Aquila Investment Management LLC’s investment portfolio, making the stock its 22nd biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Simplicity Solutions LLC increased its holdings in shares of Public Service Enterprise Group by 0.4% in the 4th quarter. Simplicity Solutions LLC now owns 63,677 shares of the utilities provider’s stock valued at $3,894,000 after acquiring an additional 252 shares during the last quarter. Sutton Place Investors LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $655,000. Cerity Partners LLC increased its holdings in shares of Public Service Enterprise Group by 74.2% in the 4th quarter. Cerity Partners LLC now owns 70,913 shares of the utilities provider’s stock valued at $4,336,000 after acquiring an additional 30,214 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Public Service Enterprise Group by 8.9% in the 4th quarter. Mutual of America Capital Management LLC now owns 119,558 shares of the utilities provider’s stock valued at $7,311,000 after acquiring an additional 9,814 shares during the last quarter. Finally, Custom Index Systems LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $504,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PEG shares. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a report on Monday, January 22nd. Evercore ISI boosted their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada boosted their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Morgan Stanley restated an “overweight” rating and set a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.33.

Get Our Latest Stock Report on Public Service Enterprise Group

Public Service Enterprise Group Trading Down 0.9 %

Shares of PEG stock opened at $65.87 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $67.51. The stock has a fifty day moving average of $63.19 and a two-hundred day moving average of $61.66. The firm has a market capitalization of $32.84 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s payout ratio is currently 46.78%.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the sale, the chief executive officer now owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was 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 90 days, insiders have sold 7,948 shares of company stock valued at $510,300. Corporate insiders own 0.57% of the company’s stock.

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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