Mn Services Vermogensbeheer B.V. Has $16.80 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mn Services Vermogensbeheer B.V. lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,817 shares of the utilities provider’s stock after acquiring an additional 7,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Public Service Enterprise Group were worth $16,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in Public Service Enterprise Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after purchasing an additional 49,285 shares during the last quarter. FMR LLC raised its holdings in shares of Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after buying an additional 877,345 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after buying an additional 1,882,667 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Public Service Enterprise Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock worth $263,315,000 after buying an additional 19,650 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Public Service Enterprise Group by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock worth $235,194,000 after acquiring an additional 147,903 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Down 2.6 %

Shares of NYSE:PEG opened at $80.76 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company’s 50-day moving average price is $84.86 and its two-hundred day moving average price is $85.99. The stock has a market capitalization of $40.24 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a one year low of $61.36 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.12%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reduced 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 research report on Wednesday. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Guggenheim reiterated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.50.

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.