Bessemer Group Inc. Grows Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bessemer Group Inc. lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,052 shares of the utilities provider's stock after purchasing an additional 7,599 shares during the period. Bessemer Group Inc.'s holdings in Public Service Enterprise Group were worth $5,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PEG. Foundations Investment Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock worth $7,403,000 after buying an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. raised its holdings in shares of Public Service Enterprise Group by 65.3% during the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock worth $2,270,000 after acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $2,860,000. Parsons Capital Management Inc. RI acquired a new position in Public Service Enterprise Group during the fourth quarter worth $2,565,000. Finally, Czech National Bank lifted its position in shares of Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock worth $9,127,000 after purchasing an additional 6,545 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

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Insider Transactions 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 Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 0.6 %

Shares of NYSE PEG traded down $0.46 during trading hours on Wednesday, hitting $83.07. The company had a trading volume of 1,989,616 shares, compared to its average volume of 2,720,563. The stock has a market capitalization of $41.42 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The firm's 50 day moving average is $81.92 and its 200-day moving average is $85.66. Public Service Enterprise Group Incorporated has a 1-year low of $64.03 and a 1-year high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business's revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 71.19%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PEG shares. Guggenheim reiterated a "buy" rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research note on Wednesday, March 19th. Bank of America decreased their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Finally, Wells Fargo & Company reduced their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $89.35.

Public Service Enterprise Group 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.