BI Asset Management Fondsmaeglerselskab A S Lowers Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 42.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,453 shares of the utilities provider’s stock after selling 13,464 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Public Service Enterprise Group were worth $1,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Capital International Inc. CA increased its stake in shares of Public Service Enterprise Group by 3.8% in the fourth quarter. Capital International Inc. CA now owns 44,955 shares of the utilities provider’s stock worth $3,798,000 after purchasing an additional 1,643 shares in the last quarter. Capital Research Global Investors boosted its holdings in Public Service Enterprise Group by 0.3% in the 4th quarter. Capital Research Global Investors now owns 4,756,965 shares of the utilities provider’s stock worth $401,916,000 after buying an additional 15,332 shares during the period. Covalis Capital LLP increased its stake in Public Service Enterprise Group by 105.7% in the 4th quarter. Covalis Capital LLP now owns 689,278 shares of the utilities provider’s stock worth $58,237,000 after buying an additional 354,204 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Public Service Enterprise Group by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,796,043 shares of the utilities provider’s stock valued at $151,748,000 after acquiring an additional 27,801 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Public Service Enterprise Group by 4.4% in the fourth quarter. First Trust Advisors LP now owns 722,245 shares of the utilities provider’s stock valued at $61,022,000 after acquiring an additional 30,566 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now owns 221,670 shares of the company’s stock, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 2.2 %

Shares of NYSE PEG opened at $81.99 on Wednesday. Public Service Enterprise Group Incorporated has a 1-year low of $65.36 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 business’s 50 day moving average is $81.78 and its two-hundred day moving average is $85.36. The stock has a market capitalization of $40.88 billion, a P/E ratio of 20.15, a PEG ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. BMO Capital Markets cut their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. Guggenheim reaffirmed a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a research note on Wednesday, March 19th. Finally, Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.35.

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.