Catalyst Funds Management Pty Ltd Has $456,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Catalyst Funds Management Pty Ltd increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 157.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,400 shares of the utilities provider’s stock after buying an additional 3,300 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Public Service Enterprise Group were worth $456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Center for Financial Planning Inc. grew its position in Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 120 shares in the last quarter. Spire Wealth Management boosted its holdings in Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after purchasing an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA increased its position in Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after buying an additional 123 shares during the last quarter. United Asset Strategies Inc. raised its holdings in Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after buying an additional 127 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after buying an additional 139 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 2.3 %

Public Service Enterprise Group stock opened at $81.59 on Friday. The business has a 50 day moving average price of $83.74 and a two-hundred day moving average price of $85.98. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12 month low of $63.31 and a 12 month high of $95.22. The stock has a market cap of $40.68 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company posted $0.54 earnings per share. Public Service Enterprise Group’s revenue was down 5.4% on a year-over-year basis. As a group, equities analysts forecast 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. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s payout ratio is 71.19%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. Guggenheim reissued a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Bank of America lowered their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Scotiabank boosted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Six 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 stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average 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.