Mitsubishi UFJ Asset Management Co. Ltd. Purchases 57,706 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 774,953 shares of the utilities provider’s stock after buying an additional 57,706 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $66,840,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Center for Financial Planning Inc. grew its holdings in Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 120 shares during the period. Spire Wealth Management lifted its position in shares of Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after buying an additional 121 shares during the last quarter. United Asset Strategies Inc. boosted its stake in shares of Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 127 shares during the period. Fifth Third Bancorp increased its holdings in shares of Public Service Enterprise Group by 0.4% during the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after acquiring an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in Public Service Enterprise Group by 10.1% in the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PEG. LADENBURG THALM/SH SH downgraded 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. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. BMO Capital Markets raised their price objective 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. Bank of America decreased their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group Trading Up 1.1 %

PEG opened at $81.57 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The stock has a market capitalization of $40.67 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a 50-day simple moving average of $83.03 and a 200 day simple moving average of $86.06.

Public Service Enterprise Group (NYSE:PEG) last posted 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 net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated 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 owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

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.