Hexagon Capital Partners LLC Has $126,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hexagon Capital Partners LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,057 shares of the utilities provider’s stock after purchasing an additional 289 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Public Service Enterprise Group were worth $126,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PEG. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after purchasing an additional 7,103,657 shares in the last quarter. Hsbc Holdings PLC raised its stake in Public Service Enterprise Group by 118.1% during the third quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock worth $77,544,000 after acquiring an additional 738,684 shares in the last quarter. Assetmark Inc. raised its stake in Public Service Enterprise Group by 562.8% during the third quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock worth $49,504,000 after acquiring an additional 738,619 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Public Service Enterprise Group by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in Public Service Enterprise Group by 1,350.4% during the third quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock worth $30,353,000 after acquiring an additional 496,581 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on PEG shares. Royal Bank of Canada increased their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Evercore ISI increased their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. Finally, Bank of America increased their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $69.81 on Thursday. The business’s 50-day simple moving average is $65.17 and its 200 day simple moving average is $62.48. The stock has a market cap of $34.81 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 3.02 and a beta of 0.56. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $70.46. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.19%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the business earned $1.39 EPS. Public Service Enterprise Group’s revenue was down 26.5% on a year-over-year basis. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated 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 approximately $1,997,409.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,948 shares of company stock worth $511,814. Insiders own 0.57% of the company’s stock.

About Public Service Enterprise Group

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.