Groupama Asset Managment Takes $1.65 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Groupama Asset Managment acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,504 shares of the utilities provider’s stock, valued at approximately $1,648,000.

A number of other hedge funds also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $35,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $39,000. Nemes Rush Group LLC purchased a new position in Public Service Enterprise Group in the 4th quarter worth approximately $53,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $54,000. Finally, Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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 report on Wednesday, February 26th. Bank of America dropped their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. Finally, Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Seven 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group Price Performance

PEG opened at $83.85 on Thursday. 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 company has a market cap of $41.80 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The stock has a fifty day simple moving average of $82.68 and a two-hundred day simple moving average of $86.10. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued 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 company 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 quarterly revenue was down 5.4% compared to the same quarter last year. Research 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 business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $0.63 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is presently 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 on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

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.