DnB Asset Management AS Has $10.45 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

DnB Asset Management AS grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,690 shares of the utilities provider’s stock after purchasing an additional 7,748 shares during the quarter. DnB Asset Management AS’s holdings in Public Service Enterprise Group were worth $10,451,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group in the 4th quarter valued at $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $39,000. Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $54,000. Millstone Evans Group LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $56,000. Finally, Financial Life Planners bought a new position in Public Service Enterprise Group during the fourth quarter worth about $56,000. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of analyst reports. Wells Fargo & Company decreased 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, February 26th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Guggenheim reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Morgan Stanley increased their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, BMO Capital Markets boosted their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 1.1 %

PEG opened at $81.57 on Friday. The company has a market cap of $40.67 billion, a P/E ratio of 20.04, a PEG ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company’s 50 day moving average is $83.03 and its 200-day moving average is $86.10. Public Service Enterprise Group Incorporated has a 1-year low of $64.03 and a 1-year high of $95.22.

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, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. Equities research analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. This is a positive change 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 (DPR) is presently 71.19%.

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.