Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Lbp Am Sa

LBP AM SA raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 382.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,496 shares of the utilities provider's stock after purchasing an additional 10,701 shares during the period. LBP AM SA's holdings in Public Service Enterprise Group were worth $1,140,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. JPL Wealth Management LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $2,716,000. Commonwealth Equity Services LLC lifted its position in Public Service Enterprise Group by 5.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 271,322 shares of the utilities provider's stock valued at $22,924,000 after purchasing an additional 14,600 shares in the last quarter. PGGM Investments lifted its position in Public Service Enterprise Group by 433.3% during the fourth quarter. PGGM Investments now owns 32,699 shares of the utilities provider's stock valued at $2,763,000 after purchasing an additional 26,568 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in Public Service Enterprise Group by 2.8% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,729 shares of the utilities provider's stock valued at $822,000 after purchasing an additional 261 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in Public Service Enterprise Group by 3.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 91,452 shares of the utilities provider's stock valued at $7,727,000 after purchasing an additional 3,020 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded up $0.19 during mid-day trading on Thursday, hitting $83.32. The stock had a trading volume of 3,080,904 shares, compared to its average volume of 2,784,023. 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 50 day moving average of $83.57 and a two-hundred day moving average of $86.02. Public Service Enterprise Group Incorporated has a twelve month low of $63.68 and a twelve month high of $95.22. The firm has a market cap of $41.54 billion, a PE ratio of 20.47, a PEG ratio of 2.78 and a beta of 0.60.

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 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The company 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%. The firm's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.63 per share. 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 yield of 3.02%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 71.19%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's 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 in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PEG shares. Guggenheim reiterated a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research report on Wednesday. Finally, BMO Capital Markets boosted their price objective on 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.