Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 129.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,093 shares of the utilities provider’s stock after acquiring an additional 617 shares during the period. Catalyst Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $92,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after acquiring an additional 49,285 shares during the last quarter. FMR LLC boosted its stake in shares of Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after acquiring an additional 877,345 shares during the last quarter. Jennison Associates LLC boosted its stake in Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after buying an additional 1,882,667 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Public Service Enterprise Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock worth $263,315,000 after buying an additional 19,650 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Public Service Enterprise Group by 5.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock worth $235,194,000 after buying an additional 147,903 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PEG shares. UBS Group raised their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Scotiabank raised their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $84.83 on Wednesday. The firm has a market capitalization of $42.26 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.77 and a beta of 0.64. 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 $59.29 and a 1-year high of $95.22. The business’s 50-day simple moving average is $85.10 and its 200-day simple moving average is $85.81.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.92%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

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.