Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Boosted by Colonial River Investments LLC

Colonial River Investments LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,497 shares of the utilities provider’s stock after acquiring an additional 386 shares during the period. Colonial River Investments LLC’s holdings in Public Service Enterprise Group were worth $633,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. International Assets Investment Management LLC raised its holdings in shares of Public Service Enterprise Group by 9,306.2% during the third quarter. International Assets Investment Management LLC now owns 404,938 shares of the utilities provider’s stock valued at $36,125,000 after buying an additional 400,633 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Public Service Enterprise Group by 132.7% during the third quarter. Assenagon Asset Management S.A. now owns 110,240 shares of the utilities provider’s stock valued at $9,835,000 after buying an additional 62,868 shares during the last quarter. Silver Oak Securities Incorporated bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $569,000. Ballentine Partners LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $238,000. Finally, Forsta AP Fonden raised its holdings in shares of Public Service Enterprise Group by 0.9% during the third quarter. Forsta AP Fonden now owns 207,700 shares of the utilities provider’s stock valued at $18,529,000 after buying an additional 1,900 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group 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 transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Down 1.0 %

Public Service Enterprise Group stock opened at $83.82 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market cap of $41.76 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 1 year low of $59.29 and a 1 year high of $95.22. The firm’s 50 day moving average price is $84.99 and its two-hundred day moving average price is $85.99.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.01%. Public Service Enterprise Group’s payout ratio is 61.92%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Scotiabank raised their price objective on shares of 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. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.