Public Service Enterprise Group Incorporated (NYSE:PEG) Stake Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,796,043 shares of the utilities provider's stock after purchasing an additional 27,801 shares during the period. Dimensional Fund Advisors LP owned approximately 0.36% of Public Service Enterprise Group worth $151,748,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Public Service Enterprise Group in the 4th quarter valued at about $445,005,000. Raymond James Financial Inc. purchased a new position in Public Service Enterprise Group in the fourth quarter valued at about $376,209,000. Jennison Associates LLC grew its stake in Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock valued at $285,982,000 after purchasing an additional 1,882,667 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Public Service Enterprise Group by 604.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock valued at $169,404,000 after purchasing an additional 1,719,614 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Public Service Enterprise Group by 234.1% during the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock worth $178,900,000 after purchasing an additional 1,483,662 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded down $1.72 during trading hours on Wednesday, reaching $79.89. The stock had a trading volume of 4,464,811 shares, compared to its average volume of 2,720,109. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a 50-day simple moving average of $81.39 and a 200-day simple moving average of $85.05. The firm has a market capitalization of $39.83 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a twelve month low of $68.29 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group's revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.15%. Public Service Enterprise Group's payout ratio is 71.19%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PEG. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Barclays cut their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Bank of America decreased their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research note on Thursday, April 10th. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus target price of $89.35.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% 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.