Kapitalo Investimentos Ltda Sells 3,965 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kapitalo Investimentos Ltda lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 90.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 429 shares of the utilities provider’s stock after selling 3,965 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Public Service Enterprise Group were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of brokerages have weighed in on PEG. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. 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. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Barclays decreased their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Hold” and an average price target of $88.81.

Public Service Enterprise Group Stock Performance

PEG stock opened at $78.61 on Friday. The company has a 50 day moving average price of $81.27 and a 200 day moving average price of $84.97. Public Service Enterprise Group Incorporated has a fifty-two week low of $69.47 and a fifty-two week high of $95.22. 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 stock has a market capitalization of $39.19 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.43. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 earnings per share. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is 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.