Mitsubishi UFJ Asset Management Co. Ltd. Has $72.87 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Public Service Enterprise Group (PEG) by 14.3% in the first quarter, now holding 885,442 shares valued at approximately $72.87 million.
• Analysts have mixed views on PEG, with price targets revised down by some, while others raised their targets; the stock has an average rating of "Hold" and a consensus price target of $90.95.
• The company declared a quarterly dividend of $0.63 per share, scheduled for payment on September 30th, representing a 2.9% yield based on current market value.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 885,442 shares of the utilities provider's stock after purchasing an additional 110,489 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Public Service Enterprise Group worth $72,872,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $25,000. REAP Financial Group LLC increased its holdings in shares of Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after acquiring an additional 162 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Public Service Enterprise Group in the first quarter worth about $32,000. Finally, Optiver Holding B.V. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $50,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded down $0.90 during trading hours on Wednesday, reaching $86.94. The company's stock had a trading volume of 942,498 shares, compared to its average volume of 2,883,262. The firm's 50 day simple moving average is $83.84 and its 200-day simple moving average is $82.19. The company has a market capitalization of $43.39 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 3.01 and a beta of 0.45. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%. The company's revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.9%. Public Service Enterprise Group's dividend payout ratio (DPR) is 63.64%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PEG shares. Barclays reduced their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Evercore ISI dropped their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley lowered their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Finally, Guggenheim lowered their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $90.95.

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.