Elo Mutual Pension Insurance Co Has $4.44 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Elo Mutual Pension Insurance Co increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,532 shares of the utilities provider’s stock after purchasing an additional 8,567 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Public Service Enterprise Group were worth $4,438,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $35,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $39,000. Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $56,000. Finally, Millstone Evans Group LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $56,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $80.72 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22. The company’s 50 day moving average price is $83.16 and its two-hundred day moving average price is $86.05. The firm has a market cap of $40.24 billion, a PE ratio of 19.83, a PEG ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Equities 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 company also recently disclosed 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. This represents a $2.52 dividend on an annualized basis and a yield of 3.12%. 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 Buying and Selling at Public Service Enterprise Group

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Morgan Stanley lifted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Bank of America cut their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned 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 target price of $89.65.

Public Service Enterprise Group Company Profile

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.