IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,958 shares of the utilities provider’s stock after buying an additional 229 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Public Service Enterprise Group were worth $6,587,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NEOS Investment Management LLC grew its position in Public Service Enterprise Group by 31.4% during the 4th quarter. NEOS Investment Management LLC now owns 30,785 shares of the utilities provider’s stock worth $2,601,000 after purchasing an additional 7,365 shares during the period. UniSuper Management Pty Ltd grew its holdings in Public Service Enterprise Group by 26.6% during the fourth quarter. UniSuper Management Pty Ltd now owns 42,036 shares of the utilities provider’s stock worth $3,552,000 after acquiring an additional 8,838 shares during the period. Elo Mutual Pension Insurance Co raised its position in Public Service Enterprise Group by 19.5% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 52,532 shares of the utilities provider’s stock valued at $4,438,000 after acquiring an additional 8,567 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Public Service Enterprise Group by 8.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 774,953 shares of the utilities provider’s stock valued at $66,840,000 after acquiring an additional 57,706 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $89,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.1 %

Shares of PEG stock opened at $81.48 on Thursday. The stock’s fifty day moving average is $83.31 and its two-hundred day moving average is $86.09. The firm has a market capitalization of $40.62 billion, a P/E ratio of 20.02, a PEG ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating 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 firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. Research analysts expect 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Morgan Stanley lifted their price target on 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. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.65.

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.