Premier Fund Managers Ltd Boosts Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Premier Fund Managers Ltd boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,000 shares of the utilities provider's stock after purchasing an additional 3,500 shares during the period. Premier Fund Managers Ltd's holdings in Public Service Enterprise Group were worth $3,040,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PEG. Foundations Investment Advisors LLC boosted its holdings 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 valued at $7,403,000 after acquiring an additional 18,627 shares in the last quarter. Cullen Investment Group LTD. increased its position 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 worth $2,270,000 after buying an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new position in Public Service Enterprise Group in the third quarter valued at $2,860,000. Parsons Capital Management Inc. RI bought a new stake in Public Service Enterprise Group during the fourth quarter valued at $2,565,000. Finally, Czech National Bank raised its position in shares of Public Service Enterprise Group by 6.4% in the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock worth $9,127,000 after acquiring an additional 6,545 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on PEG. BMO Capital Markets boosted 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 report on Wednesday, February 26th. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research report on Thursday, December 12th. Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Morgan Stanley boosted their price objective on 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, StockNews.com raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average target price of $89.65.

Public Service Enterprise Group Trading Up 0.9 %

Shares of Public Service Enterprise Group stock traded up $0.78 during trading on Tuesday, reaching $83.08. 730,069 shares of the stock were exchanged, compared to its average volume of 2,682,993. 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 market cap of $41.42 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock's fifty day moving average is $82.91 and its 200 day moving average is $86.12.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. As a group, equities research 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $0.63 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's payout ratio is currently 71.19%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company's stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.19% 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.