Mitsubishi UFJ Asset Management Co. Ltd. Purchases 57,706 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 774,953 shares of the utilities provider’s stock after buying an additional 57,706 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Public Service Enterprise Group worth $66,840,000 as of its most recent SEC filing.

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

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $81.57 on Friday. The business’s 50-day simple moving average is $83.03 and its 200 day simple moving average is $86.06. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a market cap of $40.67 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 19.48% and a return on equity of 10.70%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business 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 $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent analyst reports. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Bank of America dropped their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company reduced their target price on 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. Finally, Morgan Stanley raised their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is 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.