Ninepoint Partners LP Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ninepoint Partners LP grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,786 shares of the utilities provider’s stock after buying an additional 1,830 shares during the quarter. Ninepoint Partners LP’s holdings in Public Service Enterprise Group were worth $1,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Public Service Enterprise Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after buying an additional 49,285 shares during the last quarter. FMR LLC grew its stake in shares of Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after buying an additional 877,345 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $376,209,000. Jennison Associates LLC grew its stake in shares of Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after buying an additional 1,882,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Public Service Enterprise Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider’s stock valued at $256,012,000 after buying an additional 78,452 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company cut 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 note on Wednesday, February 26th. Finally, Scotiabank raised their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $81.59 on Friday. The stock’s 50 day simple moving average is $83.74 and its two-hundred day simple moving average is $85.98. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market cap of $40.68 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a fifty-two week low of $63.31 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business earned $0.54 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. As a group, 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. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 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.