Forsta AP Fonden Trims Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Forsta AP Fonden reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 202,600 shares of the utilities provider's stock after selling 5,100 shares during the quarter. Forsta AP Fonden's holdings in Public Service Enterprise Group were worth $17,118,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PEG. FMR LLC boosted its stake in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after purchasing an additional 877,345 shares during the period. Jennison Associates LLC boosted its position in shares of Public Service Enterprise Group by 79.5% during the third quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider's stock worth $134,006,000 after acquiring an additional 665,105 shares during the last quarter. Raymond James & Associates grew its stake in Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock valued at $255,954,000 after acquiring an additional 663,012 shares in the last quarter. National Bank of Canada FI increased its holdings in Public Service Enterprise Group by 376.3% in the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock valued at $72,321,000 after acquiring an additional 640,485 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in Public Service Enterprise Group by 179.5% in the 3rd quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider's stock worth $63,061,000 after purchasing an additional 453,985 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Up 1.8 %

Shares of PEG traded up $1.46 during mid-day trading on Thursday, reaching $83.16. 475,395 shares of the company's stock traded hands, compared to its average volume of 2,263,485. Public Service Enterprise Group Incorporated has a 12 month low of $57.24 and a 12 month high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market cap of $41.43 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.82 and a beta of 0.65. The stock's 50-day moving average is $87.32 and its two-hundred day moving average is $85.04.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the company posted $0.85 EPS. Public Service Enterprise Group's quarterly revenue was up 7.6% on a year-over-year basis. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 58.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEG. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a report on Monday, October 21st. Barclays cut 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. Finally, Evercore ISI increased their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus price target of $88.83.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 5,900 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares of the company's stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is currently owned by company insiders.

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.