First Trust Advisors LP Grows Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Trust Advisors LP raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,533,729 shares of the utilities provider’s stock after buying an additional 58,856 shares during the quarter. First Trust Advisors LP owned about 0.31% of Public Service Enterprise Group worth $93,788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. Rockline Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $1,185,000. Allspring Global Investments Holdings LLC raised its stake in shares of Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after purchasing an additional 17,838 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Public Service Enterprise Group by 79.9% in the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after purchasing an additional 397,606 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Public Service Enterprise Group by 16.6% in the fourth quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock worth $23,047,000 after purchasing an additional 53,577 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Public Service Enterprise Group by 5,613.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after purchasing an additional 169,425 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The stock was 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 $1,997,409.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The disclosure for this sale can be found here. Insiders have sold a total of 7,948 shares of company stock worth $520,814 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $74.86 on Thursday. The company has a market cap of $37.29 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 3.78 and a beta of 0.59. The stock’s 50 day simple moving average is $70.22 and its 200-day simple moving average is $64.62. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $75.82. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business’s revenue was down 26.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.39 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.21%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research analyst reports. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Tuesday, February 27th. Scotiabank dropped their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Barclays raised their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Royal Bank of Canada raised their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, Mizuho raised their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $68.92.

Check Out Our Latest Research Report on PEG

Public Service Enterprise Group Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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