Public Service Enterprise Group Incorporated (NYSE:PEG) Position Boosted by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,069,370 shares of the utilities provider’s stock after purchasing an additional 63,000 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.21% of Public Service Enterprise Group worth $90,351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $445,005,000. Raymond James Financial Inc. bought a new position in Public Service Enterprise Group in the 4th quarter worth approximately $376,209,000. Jennison Associates LLC lifted its holdings in shares of Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after buying an additional 1,882,667 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Public Service Enterprise Group by 604.5% in 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 acquiring an additional 1,719,614 shares during the last quarter. Finally, FMR LLC boosted its holdings in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.0 %

PEG opened at $80.72 on Friday. The company’s 50 day moving average is $83.16 and its 200-day moving average is $86.05. The company has a market cap of $40.24 billion, a P/E ratio of 19.83, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 1-year low of $64.03 and a 1-year high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.54 EPS. Public Service Enterprise Group’s revenue for the quarter was down 5.4% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.12%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.65.

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.