Mitsubishi UFJ Trust & Banking Corp Has $169.40 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 604.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,004,100 shares of the utilities provider’s stock after acquiring an additional 1,719,614 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Public Service Enterprise Group were worth $169,404,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Bank of America dropped their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Guggenheim restated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $83.26 on Tuesday. The stock has a market cap of $41.51 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. The firm’s 50-day simple moving average is $83.48 and its 200 day simple moving average is $86.11.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share 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 analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. As a group, 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by corporate 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.