Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Premier Fund Managers Ltd

Premier Fund Managers Ltd boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,000 shares of the utilities provider’s stock after acquiring an additional 3,500 shares during the period. Premier Fund Managers Ltd’s holdings in Public Service Enterprise Group were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PEG. Center for Financial Planning Inc. grew its position in shares of Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 120 shares during the last quarter. Spire Wealth Management increased its position in Public Service Enterprise Group by 2.4% during the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after buying an additional 121 shares in the last quarter. United Asset Strategies Inc. raised its holdings in shares of Public Service Enterprise Group by 2.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 127 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after acquiring an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Public Service Enterprise Group by 10.1% in the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 139 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 1.0 %

PEG opened at $80.72 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The firm has a 50 day moving average price of $83.16 and a 200 day moving average price of $86.05. 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 market cap of $40.24 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $0.54 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.12%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. 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 for the company in a research report on Wednesday, February 26th. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Finally, Guggenheim restated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

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.