Catalyst Funds Management Pty Ltd Buys 3,300 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Catalyst Funds Management Pty Ltd boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 157.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,400 shares of the utilities provider's stock after buying an additional 3,300 shares during the period. Catalyst Funds Management Pty Ltd's holdings in Public Service Enterprise Group were worth $456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEG. Foundations Investment Advisors LLC lifted its position in shares of Public Service Enterprise Group by 27.0% during the 4th 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 period. DRW Securities LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $8,244,000. Cullen Investment Group LTD. lifted its holdings in shares of Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock valued at $2,270,000 after acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $2,565,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.2 %

Shares of PEG traded up $0.19 during mid-day trading on Thursday, hitting $83.32. 3,080,905 shares of the company's stock were exchanged, compared to its average volume of 2,784,023. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 52 week low of $63.68 and a 52 week high of $95.22. The company has a market cap of $41.54 billion, a PE ratio of 20.47, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a 50-day simple moving average of $83.57 and a 200 day simple moving average of $86.02.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group's quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share. On average, research analysts forecast 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. Public Service Enterprise Group's payout ratio is currently 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company's stock, valued at $12,245,040.92. The trade was a 0.95 % 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. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Friday, March 14th. Barclays downgraded shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Morgan Stanley upped their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday. Bank of America dropped their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $89.65.

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.