Capital International Inc. CA Boosts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Capital International Inc. CA raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,955 shares of the utilities provider’s stock after purchasing an additional 1,643 shares during the quarter. Capital International Inc. CA’s holdings in Public Service Enterprise Group were worth $3,798,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after acquiring an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. lifted its holdings in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $2,860,000. Parsons Capital Management Inc. RI bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $2,565,000. Finally, Czech National Bank lifted its position in Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock valued at $9,127,000 after purchasing an additional 6,545 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Up 0.4 %

Shares of NYSE PEG opened at $83.33 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $81.89 and a two-hundred day simple moving average of $85.47. Public Service Enterprise Group Incorporated has a twelve month low of $65.36 and a twelve month high of $95.22. The firm has a market cap of $41.55 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) 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 firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Analysts expect 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 business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.02%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays decreased their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Bank of America cut their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company reduced 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. Finally, StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $89.35.

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.