Duff & Phelps Investment Management Co. Has $111.35 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Duff & Phelps Investment Management Co. decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,820,956 shares of the utilities provider’s stock after selling 113,226 shares during the period. Public Service Enterprise Group accounts for 1.3% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 23rd biggest holding. Duff & Phelps Investment Management Co. owned approximately 0.37% of Public Service Enterprise Group worth $111,351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC raised its position in shares of Public Service Enterprise Group by 23.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 47,541 shares of the utilities provider’s stock valued at $2,907,000 after buying an additional 9,080 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Public Service Enterprise Group by 4.9% during the fourth quarter. Van ECK Associates Corp now owns 283,685 shares of the utilities provider’s stock valued at $17,347,000 after buying an additional 13,312 shares during the last quarter. Guyasuta Investment Advisors Inc. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $210,000. Choreo LLC raised its position in shares of Public Service Enterprise Group by 262.1% during the fourth quarter. Choreo LLC now owns 14,666 shares of the utilities provider’s stock valued at $897,000 after buying an additional 10,616 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its position in shares of Public Service Enterprise Group by 5.4% during the fourth quarter. Gilbert & Cook Inc. now owns 7,327 shares of the utilities provider’s stock valued at $448,000 after buying an additional 373 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Barclays increased their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Finally, Guggenheim cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Stock Performance

PEG traded up $1.02 during trading on Tuesday, hitting $69.66. 1,526,575 shares of the company traded hands, compared to its average volume of 2,824,150. The firm has a market cap of $34.73 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. The stock’s fifty day moving average is $64.82 and its 200 day moving average is $62.37. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $69.72.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the business earned $0.64 earnings per share. The company’s quarterly revenue was down 17.0% on a year-over-year basis. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,948 shares of company stock valued at $511,814. 0.18% of the stock is currently owned by corporate insiders.

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.