Mn Services Vermogensbeheer B.V. Has $16.80 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mn Services Vermogensbeheer B.V. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 198,817 shares of the utilities provider’s stock after purchasing an additional 7,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Public Service Enterprise Group were worth $16,798,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Foundations Investment Advisors LLC increased its position in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after purchasing an additional 18,627 shares during the last quarter. DRW Securities LLC bought a new position in Public Service Enterprise Group during the third quarter valued at approximately $8,244,000. Cullen Investment Group LTD. lifted its stake in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division bought a new stake in Public Service Enterprise Group in the third quarter worth approximately $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth $2,565,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 2.6 %

Public Service Enterprise Group stock opened at $80.76 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $61.36 and a 12 month high of $95.22. The stock has a market cap of $40.24 billion, a price-to-earnings 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 price of $84.86 and a two-hundred day moving average price of $85.99. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate 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%. Public Service Enterprise Group’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.54 earnings per share. As a group, equities analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.12%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Analyst Ratings Changes

Several research firms have recently issued reports on PEG. Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Scotiabank boosted 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 research report on Thursday, December 12th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

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.