KBC Group NV raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 21.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,966 shares of the utilities provider’s stock after purchasing an additional 22,231 shares during the period. KBC Group NV’s holdings in Public Service Enterprise Group were worth $10,558,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Public Service Enterprise Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock worth $1,051,744,000 after buying an additional 49,285 shares during the period. FMR LLC boosted its position in Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after acquiring an additional 877,345 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Public Service Enterprise Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock worth $263,315,000 after purchasing an additional 19,650 shares in the last quarter. Raymond James & Associates grew its stake in shares of Public Service Enterprise Group by 30.1% in the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after purchasing an additional 663,012 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Public Service Enterprise Group by 5.9% during the third quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock valued at $235,194,000 after purchasing an additional 147,903 shares during the period. Institutional investors own 73.34% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on PEG shares. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a research note on Monday. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group lifted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.83.
Public Service Enterprise Group Stock Up 0.2 %
NYSE:PEG opened at $81.87 on Thursday. The business’s fifty day moving average price is $87.49 and its 200 day moving average price is $85.07. The firm has a market capitalization of $40.79 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.82 and a beta of 0.65. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 1-year low of $57.24 and a 1-year high of $95.22.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.
Insider Buying and Selling
In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,234 shares of company stock worth $722,037. Corporate insiders own 0.57% of the company’s stock.
About Public Service Enterprise Group
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.
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