Martingale Asset Management L P Has $15.05 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Martingale Asset Management L P cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 25.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 178,110 shares of the utilities provider’s stock after selling 62,379 shares during the period. Martingale Asset Management L P’s holdings in Public Service Enterprise Group were worth $15,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its position in shares of Public Service Enterprise Group by 6.9% during the third quarter. EP Wealth Advisors LLC now owns 3,482 shares of the utilities provider’s stock worth $311,000 after purchasing an additional 226 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Public Service Enterprise Group by 1.7% in the third quarter. Orion Portfolio Solutions LLC now owns 27,935 shares of the utilities provider’s stock worth $2,492,000 after purchasing an additional 480 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Public Service Enterprise Group by 2.9% in the 3rd quarter. M&T Bank Corp now owns 37,670 shares of the utilities provider’s stock valued at $3,360,000 after buying an additional 1,044 shares during the last quarter. Brophy Wealth Management LLC bought a new position in Public Service Enterprise Group during the third quarter worth about $527,000. Finally, Geode Capital Management LLC raised its position in shares of Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after purchasing an additional 49,285 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Public Service Enterprise Group Stock Up 0.6 %

NYSE:PEG opened at $77.61 on Wednesday. The firm has a 50-day simple moving average of $82.07 and a two-hundred day simple moving average of $85.87. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market cap of $38.69 billion, a P/E ratio of 19.07, a P/E/G ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results 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 for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. BMO Capital Markets lifted their price target 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. Guggenheim restated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Morgan Stanley raised their target price 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. Finally, LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $89.58.

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.