Mitsubishi UFJ Trust & Banking Corp Has $169.40 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 604.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,004,100 shares of the utilities provider’s stock after buying an additional 1,719,614 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.40% of Public Service Enterprise Group worth $169,404,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PEG. Vanguard Group Inc. increased its position in Public Service Enterprise Group by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider’s stock worth $5,134,882,000 after acquiring an additional 492,517 shares during the period. Geode Capital Management LLC increased its holdings 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 worth $1,051,744,000 after purchasing an additional 49,285 shares during the period. FMR LLC raised its position in shares of Public Service Enterprise Group by 19.4% in 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $376,209,000. Finally, Jennison Associates LLC boosted its stake in shares of Public Service Enterprise Group by 125.3% in 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 period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PEG shares. Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Finally, Scotiabank boosted their target price on shares of 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. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now directly 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 at this hyperlink. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $83.26 on Tuesday. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one 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 company has a market cap of $41.51 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. The firm has a 50 day simple moving average of $83.48 and a 200 day simple moving average of $86.11.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company 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 revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. Research analysts predict 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 company also recently declared 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 is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is 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.