OFI Invest Asset Management Buys Shares of 478 Public Service Enterprise Group Incorporated (NYSE:PEG)

OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 478 shares of the utilities provider’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Amundi increased its stake in shares of Public Service Enterprise Group by 8.9% during the fourth quarter. Amundi now owns 2,689,546 shares of the utilities provider’s stock valued at $229,364,000 after purchasing an additional 219,827 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Public Service Enterprise Group by 10.1% during the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after buying an additional 139 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $2,472,000. Andra AP fonden increased its position in shares of Public Service Enterprise Group by 2.3% during the fourth quarter. Andra AP fonden now owns 227,400 shares of the utilities provider’s stock valued at $19,213,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of Public Service Enterprise Group by 106.7% during the fourth quarter. Edgestream Partners L.P. now owns 8,625 shares of the utilities provider’s stock valued at $729,000 after acquiring an additional 4,453 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.7 %

Shares of PEG stock opened at $78.50 on Tuesday. Public Service Enterprise Group Incorporated has a 1 year low of $63.31 and a 1 year high of $95.22. The firm has a fifty day moving average price of $84.16 and a 200-day moving average price of $86.05. 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 company has a market cap of $39.14 billion, a price-to-earnings ratio of 19.29, a PEG 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 net margin of 19.48% and a return on equity of 10.70%. 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 previous year, the firm posted $0.54 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.21%. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PEG. Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Bank of America reduced their price target on shares of 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. Guggenheim reissued a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.83.

Public Service Enterprise Group 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.