Tocqueville Asset Management L.P. Has $2.49 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Tocqueville Asset Management L.P. grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,423 shares of the utilities provider’s stock after acquiring an additional 2,317 shares during the period. Tocqueville Asset Management L.P.’s holdings in Public Service Enterprise Group were worth $2,486,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PEG. Geode Capital Management LLC raised its position in Public Service Enterprise Group by 0.4% during the 3rd 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 last quarter. FMR LLC lifted its stake 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 worth $481,825,000 after acquiring an additional 877,345 shares during the period. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $376,209,000. Jennison Associates LLC increased its position in Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after purchasing an additional 1,882,667 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Public Service Enterprise Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider’s stock worth $256,012,000 after purchasing an additional 78,452 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $82.16 on Wednesday. Public Service Enterprise Group Incorporated has a 12 month low of $63.54 and a 12 month high of $95.22. The firm has a market capitalization of $40.96 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The firm has a fifty day simple moving average of $83.61 and a two-hundred day simple moving average of $86.04. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last posted 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 company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction 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 transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PEG shares. Guggenheim reiterated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. 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. Wells Fargo & Company dropped their price objective 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. 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 note on Wednesday, February 26th. Finally, StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price 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.