BNP Paribas Financial Markets Boosts Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

BNP Paribas Financial Markets grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 872,582 shares of the utilities provider's stock after buying an additional 103,570 shares during the period. BNP Paribas Financial Markets owned 0.18% of Public Service Enterprise Group worth $73,724,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Transce3nd LLC acquired a new position in Public Service Enterprise Group in the 4th quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $39,000. Optiver Holding B.V. acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $50,000. Finally, Nemes Rush Group LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $53,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective 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. Bank of America cut their price objective on shares of 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. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a report on Wednesday, March 19th. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Finally, Evercore ISI lowered their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $88.81.

Public Service Enterprise Group Trading Up 1.8 %

NYSE:PEG opened at $79.77 on Wednesday. The business's 50-day moving average is $81.09 and its two-hundred day moving average is $84.73. The firm has a market capitalization of $39.80 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $71.49 and a 12 month high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company's revenue was up 16.7% on a year-over-year basis. During the same period last year, the business posted $1.31 EPS. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's payout ratio is 68.85%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by 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.

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