Public Service Enterprise Group Incorporated (NYSE:PEG) Stake Boosted by Schroder Investment Management Group

Schroder Investment Management Group raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 234.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,117,411 shares of the utilities provider’s stock after buying an additional 1,483,662 shares during the quarter. Schroder Investment Management Group owned 0.42% of Public Service Enterprise Group worth $178,900,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEG. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter valued at $35,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $39,000. Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth approximately $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $56,000. Finally, Millstone Evans Group LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 1.1 %

PEG stock opened at $81.57 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 52-week low of $64.03 and a 52-week high of $95.22. The company has a 50-day moving average of $83.03 and a two-hundred day moving average of $86.13. The stock has a market capitalization of $40.67 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is 71.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price on shares of 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. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Morgan Stanley raised their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Bank of America lowered 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, StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.65.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.