Siemens Fonds Invest GmbH Boosts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Siemens Fonds Invest GmbH boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,211 shares of the utilities provider’s stock after purchasing an additional 820 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Public Service Enterprise Group were worth $525,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $445,005,000. Raymond James Financial Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $376,209,000. Jennison Associates LLC boosted its stake in 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 acquiring an additional 1,882,667 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Public Service Enterprise Group by 604.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after purchasing an additional 1,719,614 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Public Service Enterprise Group by 234.1% during the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after purchasing an additional 1,483,662 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 1.1%

PEG stock opened at $79.33 on Friday. The stock has a market capitalization of $39.58 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The company has a fifty day moving average of $80.87 and a 200-day moving average of $84.12. 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 one year low of $71.89 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the company posted $1.31 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is presently 68.85%.

Analyst Ratings Changes

A number of analysts recently issued reports on PEG shares. Evercore ISI decreased their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Barclays lowered their target price 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 report on Tuesday, April 8th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Finally, Bank of America decreased their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $88.81.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the sale, the chief executive officer now directly owns 221,093 shares in the company, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group 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.