Gulf International Bank UK Ltd Has $3.30 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Gulf International Bank UK Ltd reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,072 shares of the utilities provider’s stock after selling 442 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Public Service Enterprise Group were worth $3,301,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at about $35,000. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group during the fourth quarter valued at about $35,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $54,000. Financial Life Planners bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $56,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $57,000. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PEG. Guggenheim reaffirmed a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday. Wells Fargo & Company reduced their price objective 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. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Scotiabank increased their price target 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, BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday. Five equities research 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’s stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was 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 approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Down 2.6 %

Shares of Public Service Enterprise Group stock opened at $80.76 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $61.36 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market capitalization of $40.24 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The business has a 50-day moving average of $84.86 and a two-hundred day moving average of $85.99.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data 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. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm 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 $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.12%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 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.