Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,375,387 shares of the utilities provider’s stock after buying an additional 110,235 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of Public Service Enterprise Group worth $84,105,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PEG. Louisiana State Employees Retirement System purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $1,841,000. Aquila Investment Management LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $1,773,000. Simplicity Solutions LLC lifted its holdings in Public Service Enterprise Group by 0.4% during the fourth quarter. Simplicity Solutions LLC now owns 63,677 shares of the utilities provider’s stock valued at $3,894,000 after purchasing an additional 252 shares in the last quarter. Sutton Place Investors LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $655,000. Finally, Cerity Partners LLC lifted its holdings in Public Service Enterprise Group by 74.2% during the fourth quarter. Cerity Partners LLC now owns 70,913 shares of the utilities provider’s stock valued at $4,336,000 after purchasing an additional 30,214 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PEG. Barclays raised their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday. Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research note on Monday, January 22nd. Morgan Stanley restated an “overweight” rating and set a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Bank of America raised their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets cut their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.58.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $65.03 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The stock has a market cap of $32.42 billion, a PE ratio of 12.68, a P/E/G ratio of 2.81 and a beta of 0.58. The firm has a 50-day simple moving average of $63.55 and a two-hundred day simple moving average of $61.82. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 46.78%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,948 shares of company stock worth $510,300. Corporate insiders own 0.57% 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.