Resolution Capital Ltd Has $4.59 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Resolution Capital Ltd raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,304 shares of the utilities provider’s stock after purchasing an additional 2,027 shares during the quarter. Resolution Capital Ltd’s holdings in Public Service Enterprise Group were worth $4,588,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PEG. Norges Bank bought a new position in Public Service Enterprise Group during the 4th quarter valued at $445,005,000. Raymond James Financial Inc. purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $376,209,000. Jennison Associates LLC lifted its position in shares of Public Service Enterprise Group by 125.3% during the fourth 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Public Service Enterprise Group by 604.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock valued at $169,404,000 after purchasing an additional 1,719,614 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Public Service Enterprise Group by 234.1% during the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after purchasing an additional 1,483,662 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of several analyst reports. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Morgan Stanley upped their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. StockNews.com lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Barclays cut their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America decreased their target price 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $88.81.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now directly owns 221,093 shares in the company, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Down 0.4%

PEG stock opened at $77.25 on Thursday. The company has a market capitalization of $38.55 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $71.89 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 fifty day moving average of $80.86 and a 200-day moving average of $84.29.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.26%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 68.85%.

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.