Mufg Securities Americas Inc. Invests $622,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mufg Securities Americas Inc. purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,356 shares of the utilities provider's stock, valued at approximately $622,000.

A number of other hedge funds also recently made changes to their positions in the business. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $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. Finally, Optiver Holding B.V. purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $50,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley lifted their price objective on shares of 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 reduced their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Bank of America dropped their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, Evercore ISI decreased 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $88.81.

Public Service Enterprise Group Trading Up 0.6%

Shares of PEG stock traded up $0.47 on Monday, hitting $79.76. The stock had a trading volume of 3,010,178 shares, compared to its average volume of 2,736,536. The company's 50 day moving average price is $80.87 and its 200-day moving average price is $84.08. The firm has a market capitalization of $39.80 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.78 and a beta of 0.48. 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 Incorporated has a 1 year low of $71.89 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the company earned $1.31 earnings per share. The firm's revenue was up 16.7% compared to the same quarter last year. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. 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 dividend payout ratio is currently 68.85%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company'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 directly owns 221,093 shares of the company's stock, valued at $17,523,831.18. This represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company's stock.

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.