Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Lbp Am Sa

Lbp Am Sa raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 382.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,496 shares of the utilities provider’s stock after acquiring an additional 10,701 shares during the quarter. Lbp Am Sa’s holdings in Public Service Enterprise Group were worth $1,140,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth $35,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth $39,000. Stonebridge Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth $54,000. Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth $57,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $81.59 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $63.31 and a 1-year high of $95.22. The business has a 50-day moving average of $83.74 and a 200-day moving average of $85.98. 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 company has a market capitalization 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 (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate 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 declared 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. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. Public Service Enterprise Group’s payout ratio is 71.19%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. BMO Capital Markets lifted 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 report on Wednesday, February 26th. Guggenheim reaffirmed 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 downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.83.

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.