Axecap Investments LLC Acquires Shares of 34,632 Public Service Enterprise Group Incorporated (NYSE:PEG)

Axecap Investments LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 34,632 shares of the utilities provider’s stock, valued at approximately $2,850,000. Public Service Enterprise Group makes up about 2.4% of Axecap Investments LLC’s holdings, making the stock its 18th biggest position.

A number of other institutional investors have also added to or reduced their stakes in the stock. Transce3nd LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $25,000. REAP Financial Group LLC grew its holdings in shares of Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $39,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares in the company, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $80.77 on Thursday. The company has a market capitalization of $40.30 billion, a PE ratio of 19.84, a P/E/G ratio of 2.78 and a beta of 0.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a 50-day simple moving average of $80.13 and a two-hundred day simple moving average of $83.17. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.12%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 68.85%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Guggenheim dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company cut their price objective 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. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research report on Wednesday, March 19th. Finally, Barclays cut their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Hold” and a consensus target price of $89.63.

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.