Commerzbank Aktiengesellschaft FI Acquires 6,803 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 195.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,290 shares of the utilities provider’s stock after acquiring an additional 6,803 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Public Service Enterprise Group were worth $870,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter worth about $35,000. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $35,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $54,000. Financial Life Planners bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $56,000. Finally, Brown Lisle Cummings Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter worth about $57,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Down 0.4 %

NYSE:PEG opened at $81.40 on Wednesday. The company has a 50-day moving average price of $84.62 and a 200-day moving average price of $86.09. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a market cap of $40.56 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.10%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s payout ratio is 71.19%.

Insider Activity at Public Service Enterprise Group

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, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on PEG. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Guggenheim reissued a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Finally, Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $89.83.

Public Service Enterprise Group 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.