denkapparat Operations GmbH Acquires Shares of 9,102 Public Service Enterprise Group Incorporated $PEG

denkapparat Operations GmbH acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, Holdings Channel.com reports. The fund acquired 9,102 shares of the utilities provider’s stock, valued at approximately $760,000.

A number of other institutional investors have also made changes to their positions in PEG. JARISLOWSKY FRASER Ltd increased its position in Public Service Enterprise Group by 107.1% in the third quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock worth $85,572,000 after buying an additional 530,248 shares during the period. Railway Pension Investments Ltd grew its position in shares of Public Service Enterprise Group by 97.5% during the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after acquiring an additional 937,100 shares during the last quarter. Assetmark Inc. grew its position in shares of Public Service Enterprise Group by 4.6% during the third quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock worth $74,609,000 after acquiring an additional 38,949 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Public Service Enterprise Group by 18.2% in the 3rd quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock worth $137,155,000 after acquiring an additional 253,810 shares during the period. Finally, Rakuten Investment Management Inc. bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $1,852,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $86.12 on Monday. The stock has a market cap of $42.98 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25. The stock’s 50 day moving average price is $80.22 and its 200 day moving average price is $81.97.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were issued a $0.63 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 annualized dividend and a dividend yield of 2.9%. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a research report on Wednesday, January 7th. UBS Group cut their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $88.00 to $92.00 in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.