Keybank National Association OH Boosts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Keybank National Association OH raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,838 shares of the utilities provider’s stock after acquiring an additional 485 shares during the period. Keybank National Association OH’s holdings in Public Service Enterprise Group were worth $662,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at $35,000. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $35,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $54,000. Financial Life Planners purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $56,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $57,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PEG. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Bank of America dropped 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. Guggenheim restated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets raised their target price on 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. Finally, Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.83.

Public Service Enterprise Group Trading Up 1.1 %

Shares of Public Service Enterprise Group stock opened at $79.10 on Friday. The firm has a market capitalization of $39.44 billion, a PE ratio of 19.43, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22. The firm’s 50-day moving average price is $84.27 and its 200 day moving average price is $86.03. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $0.54 EPS. The business’s revenue was down 5.4% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.19%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

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.