Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Pensionfund Sabic

Pensionfund Sabic increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 26.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 19,200 shares of the utilities provider’s stock after buying an additional 4,000 shares during the period. Pensionfund Sabic’s holdings in Public Service Enterprise Group were worth $1,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Centre Asset Management LLC increased its holdings in Public Service Enterprise Group by 7.4% in the fourth quarter. Centre Asset Management LLC now owns 3,812 shares of the utilities provider’s stock worth $322,000 after buying an additional 264 shares during the last quarter. GAMMA Investing LLC grew its holdings in Public Service Enterprise Group by 14.8% during the fourth quarter. GAMMA Investing LLC now owns 6,852 shares of the utilities provider’s stock valued at $579,000 after purchasing an additional 881 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Public Service Enterprise Group by 3.1% in the third quarter. Principal Financial Group Inc. now owns 602,574 shares of the utilities provider’s stock valued at $53,756,000 after purchasing an additional 18,344 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in shares of Public Service Enterprise Group in the third quarter worth $10,137,000. Finally, Inspire Trust Co. N.A. boosted its holdings in shares of Public Service Enterprise Group by 11.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 14,000 shares of the utilities provider’s stock worth $1,249,000 after buying an additional 1,476 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of PEG traded down $1.10 on Monday, hitting $85.15. The company’s stock had a trading volume of 170,858 shares, compared to its average volume of 1,207,929. The company has a 50 day moving average price of $87.80 and a 200 day moving average price of $83.65. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The company has a market capitalization of $42.42 billion, a PE ratio of 20.92, a PEG ratio of 3.18 and a beta of 0.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.82%. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,798 shares of company stock valued at $1,588,631 over the last three months. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. UBS Group boosted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company. Barclays dropped their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

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.