Nomura Asset Management Co. Ltd. Acquires 534 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Nomura Asset Management Co. Ltd. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,548 shares of the utilities provider’s stock after acquiring an additional 534 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $13,311,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Duff & Phelps Investment Management Co. boosted its position in Public Service Enterprise Group by 6.3% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,069,370 shares of the utilities provider’s stock valued at $90,351,000 after buying an additional 63,000 shares in the last quarter. Norges Bank acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $445,005,000. Blair William & Co. IL grew its position in Public Service Enterprise Group by 3.0% during the 4th quarter. Blair William & Co. IL now owns 22,972 shares of the utilities provider’s stock worth $1,941,000 after acquiring an additional 661 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new position in Public Service Enterprise Group in the 4th quarter worth about $3,577,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Public Service Enterprise Group by 0.3% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 77,958 shares of the utilities provider’s stock valued at $6,587,000 after purchasing an additional 229 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.1 %

Shares of PEG stock opened at $81.57 on Monday. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. 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 50 day simple moving average of $83.03 and a two-hundred day simple moving average of $86.13. The company has a market cap of $40.67 billion, a P/E ratio of 20.04, a PEG ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America reduced their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. Finally, BMO Capital Markets raised their target price on 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. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

About Public Service Enterprise Group

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.