Envestnet Asset Management Inc. Buys 27,472 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Envestnet Asset Management Inc. grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 992,812 shares of the utilities provider's stock after acquiring an additional 27,472 shares during the quarter. Envestnet Asset Management Inc. owned 0.20% of Public Service Enterprise Group worth $81,708,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Public Service Enterprise Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock worth $5,134,882,000 after acquiring an additional 492,517 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Public Service Enterprise Group by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock worth $1,027,725,000 after buying an additional 365,666 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Public Service Enterprise Group by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after buying an additional 604,978 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Public Service Enterprise Group by 6.1% during the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock worth $490,644,000 after buying an additional 335,135 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $445,005,000. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of PEG traded up $0.45 during mid-day trading on Monday, reaching $83.00. The company's stock had a trading volume of 2,341,126 shares, compared to its average volume of 2,768,647. Public Service Enterprise Group Incorporated has a 1-year low of $73.72 and a 1-year high of $95.22. The stock has a market cap of $41.42 billion, a P/E ratio of 22.68, a PEG ratio of 2.96 and a beta of 0.48. The business has a 50-day simple moving average of $80.63 and a two-hundred day simple moving average of $82.12. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the firm posted $1.31 earnings per share. The business's revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a dividend of $0.63 per share. The ex-dividend date was Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 68.85%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PEG shares. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. Guggenheim decreased their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. UBS Group raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $86.00 to $97.00 in a research report on Monday, July 7th. Finally, Barclays reduced their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.38.

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.