Catalyst Funds Management Pty Ltd Has $456,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Catalyst Funds Management Pty Ltd boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 157.1% in the fourth quarter, HoldingsChannel reports. The firm owned 5,400 shares of the utilities provider’s stock after acquiring an additional 3,300 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Public Service Enterprise Group were worth $456,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Huntington National Bank raised its holdings in shares of Public Service Enterprise Group by 5.7% in the third quarter. Huntington National Bank now owns 32,453 shares of the utilities provider’s stock valued at $2,895,000 after buying an additional 1,761 shares during the last quarter. KBC Group NV raised its stake in shares of Public Service Enterprise Group by 162.3% in the third quarter. KBC Group NV now owns 102,735 shares of the utilities provider’s stock worth $9,165,000 after acquiring an additional 63,565 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Public Service Enterprise Group by 2.1% during the third quarter. OneDigital Investment Advisors LLC now owns 19,382 shares of the utilities provider’s stock worth $1,729,000 after purchasing an additional 390 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Public Service Enterprise Group by 84.6% during the third quarter. CIBC Asset Management Inc now owns 147,246 shares of the utilities provider’s stock valued at $13,136,000 after purchasing an additional 67,487 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Public Service Enterprise Group by 2.3% in the third quarter. Empirical Finance LLC now owns 17,282 shares of the utilities provider’s stock valued at $1,542,000 after purchasing an additional 381 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday. Scotiabank lifted 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 report on Thursday, December 12th. BMO Capital Markets upped 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 research report on Wednesday, February 26th. Wells Fargo & Company lowered 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. Finally, Bank of America reduced their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $89.83.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Public Service Enterprise Group Price Performance

PEG opened at $81.59 on Friday. The stock has a market cap of $40.68 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a fifty day simple moving average of $83.74 and a 200 day simple moving average of $85.98.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly 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. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, research 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is 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.