National Pension Service Has $52.22 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

National Pension Service decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 618,018 shares of the utilities provider’s stock after selling 55,013 shares during the period. National Pension Service owned 0.12% of Public Service Enterprise Group worth $52,216,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at about $35,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $35,000. Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $54,000. Financial Life Planners bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $56,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $59,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Guggenheim restated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Scotiabank lifted 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. BMO Capital Markets lifted 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. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG opened at $80.76 on Friday. The business’s 50-day simple moving average is $84.86 and its 200 day simple moving average is $85.99. The firm has a market capitalization of $40.24 billion, a PE ratio of 19.84, a PEG ratio of 2.78 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 52-week low of $61.36 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.12%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

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.