Inceptionr LLC Trims Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Inceptionr LLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 53.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,073 shares of the utilities provider’s stock after selling 6,939 shares during the quarter. Inceptionr LLC’s holdings in Public Service Enterprise Group were worth $513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $376,209,000. Jennison Associates LLC boosted its stake in shares of Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after acquiring an additional 1,882,667 shares during the period. FMR LLC boosted its stake in shares of Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after acquiring an additional 877,345 shares during the period. National Bank of Canada FI boosted its stake in shares of Public Service Enterprise Group by 376.3% in the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock worth $72,321,000 after acquiring an additional 640,485 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Public Service Enterprise Group by 103.6% in the fourth quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock worth $80,313,000 after acquiring an additional 483,795 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.1 %

Shares of PEG stock opened at $79.10 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $63.31 and a 1 year 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’s 50 day simple moving average is $84.27 and its two-hundred day simple moving average is $86.03. The company has a market cap of $39.44 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Bank of America dropped their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Guggenheim reissued a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Six investment 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, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $89.83.

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.