Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 110,484 shares of the utilities provider’s stock after selling 8,184 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Public Service Enterprise Group were worth $6,713,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after buying an additional 7,103,657 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Public Service Enterprise Group by 259.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,504,200 shares of the utilities provider’s stock worth $275,973,000 after purchasing an additional 3,252,500 shares during the last quarter. Norges Bank acquired a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $141,476,000. Prudential Financial Inc. increased its stake in Public Service Enterprise Group by 196.2% in the first quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider’s stock valued at $132,451,000 after purchasing an additional 1,253,283 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Public Service Enterprise Group during the first quarter worth approximately $74,050,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $66.57 on Thursday. The stock has a fifty day moving average price of $62.88 and a 200 day moving average price of $61.56. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The company has a market cap of $33.19 billion, a PE ratio of 12.98, a P/E/G ratio of 2.92 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the business earned $0.64 EPS. The business’s revenue was down 17.0% on a year-over-year basis. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.61%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio is 46.78%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEG. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Bank of America lifted their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Evercore ISI raised their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.33.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock valued at $510,300 in the last three months. 0.18% of the stock is currently owned by company insiders.

Public Service Enterprise Group Company 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.