Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Norinchukin Bank The

Norinchukin Bank The boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,597 shares of the utilities provider’s stock after buying an additional 2,491 shares during the period. Norinchukin Bank The’s holdings in Public Service Enterprise Group were worth $1,994,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Foundations Investment Advisors LLC raised its holdings in Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after purchasing an additional 18,627 shares in the last quarter. Cullen Investment Group LTD. increased its position in Public Service Enterprise Group by 65.3% during the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after purchasing an additional 10,610 shares during the period. Arvest Bank Trust Division purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $2,860,000. Parsons Capital Management Inc. RI acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $2,565,000. Finally, Czech National Bank boosted its stake in shares of Public Service Enterprise Group by 6.4% in the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock valued at $9,127,000 after buying an additional 6,545 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now owns 221,670 shares in the company, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PEG. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a report on Wednesday, March 19th. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Barclays dropped their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Guggenheim restated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, BMO Capital Markets dropped their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $89.35.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.33 on Monday. Public Service Enterprise Group Incorporated has a 1-year low of $65.36 and a 1-year high of $95.22. The firm has a 50 day simple moving average of $81.89 and a 200-day simple moving average of $85.47. The firm has a market cap of $41.55 billion, a PE ratio of 20.47, a P/E/G ratio of 2.78 and a beta of 0.52. 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 (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

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.