FUKOKU MUTUAL LIFE INSURANCE Co Has $438,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

FUKOKU MUTUAL LIFE INSURANCE Co increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 81.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,183 shares of the utilities provider’s stock after acquiring an additional 2,330 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Public Service Enterprise Group were worth $438,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group during the third quarter worth about $35,000. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group during the fourth quarter valued at $35,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $54,000. Financial Life Planners acquired a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $56,000. Finally, Brown Lisle Cummings Inc. bought a new position in Public Service Enterprise Group during the fourth quarter worth $57,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several recent research reports. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Guggenheim restated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.50.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred 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 $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 0.4 %

Public Service Enterprise Group stock opened at $82.92 on Thursday. Public Service Enterprise Group Incorporated has a 12 month low of $59.67 and a 12 month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The business’s fifty day simple moving average is $84.90 and its two-hundred day simple moving average is $86.03. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share 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 business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business earned $0.54 EPS. Public Service Enterprise Group’s revenue 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 fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

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.