1,900 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by GKV Capital Management Co. Inc.

GKV Capital Management Co. Inc. acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,900 shares of the utilities provider’s stock, valued at approximately $161,000.

Several other institutional investors have also modified their holdings of PEG. Vanguard Group Inc. lifted its position in Public Service Enterprise Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider’s stock worth $5,134,882,000 after buying an additional 492,517 shares during the last quarter. Geode Capital Management LLC raised its position in Public Service Enterprise Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider’s stock worth $1,027,725,000 after purchasing an additional 365,666 shares during the period. Invesco Ltd. raised its position in Public Service Enterprise Group by 10.2% in the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider’s stock worth $551,323,000 after purchasing an additional 604,978 shares during the period. Norges Bank purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth approximately $445,005,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $376,209,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley upped their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Barclays decreased their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Guggenheim reiterated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Bank of America cut their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Wells Fargo & Company dropped their price objective on 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.35.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.07 on Thursday. Public Service Enterprise Group Incorporated has a 1 year low of $64.40 and a 1 year high of $95.22. The stock has a 50-day simple moving average of $81.91 and a 200-day simple moving average of $85.64. The stock has a market capitalization of $41.42 billion, a PE ratio of 20.41, a PEG ratio of 2.78 and a beta of 0.52. 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 (NYSE:PEG) last released its quarterly earnings data 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. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Public Service Enterprise Group’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $0.63 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. Public Service Enterprise Group’s payout ratio is 71.19%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.