Colonial River Investments LLC Has $633,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Colonial River Investments LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,497 shares of the utilities provider’s stock after buying an additional 386 shares during the period. Colonial River Investments LLC’s holdings in Public Service Enterprise Group were worth $633,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PEG. Jennison Associates LLC boosted its stake in shares of Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after buying an additional 1,882,667 shares during the period. FMR LLC lifted its stake in shares of Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Public Service Enterprise Group by 376.3% in the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock valued at $72,321,000 after purchasing an additional 640,485 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Public Service Enterprise Group by 103.6% in the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock valued at $80,313,000 after purchasing an additional 483,795 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Public Service Enterprise Group by 179.5% in the 3rd quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider’s stock valued at $63,061,000 after purchasing an additional 453,985 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PEG shares. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. 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 report on Thursday, December 12th. Finally, UBS Group lifted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Five investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

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 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 sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.82 on Monday. The firm’s 50-day moving average is $84.99 and its 200-day moving average is $85.99. Public Service Enterprise Group Incorporated has a 52-week low of $59.29 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market cap of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed 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 an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. Public Service Enterprise Group’s payout ratio is presently 61.92%.

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.