LMR Partners LLP Acquires Shares of 20,935 Public Service Enterprise Group Inc. (PEG)

LMR Partners LLP acquired a new stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 20,935 shares of the utilities provider’s stock, valued at approximately $1,090,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rockland Trust Co. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $31,000. Athena Capital Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $33,000. Csenge Advisory Group bought a new stake in shares of Public Service Enterprise Group in the third quarter worth $44,000. JNBA Financial Advisors bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $45,000. Finally, Essex Savings Bank bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $49,000. Institutional investors own 68.54% of the company’s stock.

PEG stock opened at $59.64 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.71 and a quick ratio of 0.53. Public Service Enterprise Group Inc. has a 1-year low of $47.84 and a 1-year high of $59.95. The firm has a market cap of $30.12 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.74 and a beta of 0.41.



Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Wednesday, February 27th. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. Public Service Enterprise Group had a net margin of 14.83% and a return on equity of 11.10%. During the same quarter last year, the business earned $0.57 earnings per share. Equities research analysts predict that Public Service Enterprise Group Inc. will post 3.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be paid a dividend of $0.47 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, March 7th. This represents a $1.88 annualized dividend and a yield of 3.15%. Public Service Enterprise Group’s payout ratio is presently 60.26%.

In other Public Service Enterprise Group news, VP Stuart J. Black sold 6,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.07, for a total transaction of $354,420.00. Following the completion of the sale, the vice president now owns 24,981 shares in the company, valued at $1,475,627.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph Izzo sold 52,406 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $59.08, for a total transaction of $3,096,146.48. Following the sale, the chief executive officer now owns 487,843 shares of the company’s stock, valued at approximately $28,821,764.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,219 shares of company stock valued at $8,962,684. 0.58% of the stock is owned by insiders.

PEG has been the subject of a number of research analyst reports. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 price target for the company in a research note on Thursday, January 17th. Wolfe Research upgraded shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 22nd. Wells Fargo & Co lifted their price target on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Tuesday, January 15th. Finally, ValuEngine lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $59.10.

ILLEGAL ACTIVITY WARNING: “LMR Partners LLP Acquires Shares of 20,935 Public Service Enterprise Group Inc. (PEG)” was reported by Dakota Financial News and is the property of of Dakota Financial News. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://dakotafinancialnews.com/2019/03/15/lmr-partners-llp-acquires-shares-of-20935-public-service-enterprise-group-inc-peg.html.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Recommended Story: What is a Reverse Stock Split?

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Inc. (NYSE:PEG).

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

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.