Mizuho Securities USA LLC Has $3.99 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mizuho Securities USA LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 46.2% during the fourth quarter, HoldingsChannel reports. The fund owned 47,220 shares of the utilities provider’s stock after acquiring an additional 14,917 shares during the quarter. Mizuho Securities USA LLC’s holdings in Public Service Enterprise Group were worth $3,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEG. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $39,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $56,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $56,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PEG. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Bank of America reduced their price objective on shares of 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. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Public Service Enterprise Group Stock Down 0.4 %

Public Service Enterprise Group stock opened at $83.00 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The firm has a 50 day moving average price of $83.50 and a 200-day moving average price of $86.10. The company has a market capitalization of $41.38 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.78 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $0.63 per share. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s 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 sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

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.