Envestnet Portfolio Solutions Inc. Has $1.27 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Envestnet Portfolio Solutions Inc. cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 31.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,410 shares of the utilities provider's stock after selling 7,141 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Public Service Enterprise Group were worth $1,268,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Centre Asset Management LLC grew its position in shares of Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock valued at $324,000 after purchasing an additional 121 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock worth $128,000 after purchasing an additional 139 shares during the last quarter. Apella Capital LLC boosted its stake in Public Service Enterprise Group by 2.7% during the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock valued at $443,000 after purchasing an additional 144 shares during the period. Copperwynd Financial LLC grew its holdings in Public Service Enterprise Group by 1.4% in the 4th quarter. Copperwynd Financial LLC now owns 10,714 shares of the utilities provider's stock valued at $905,000 after buying an additional 145 shares during the last quarter. Finally, Net Worth Advisory Group grew its holdings in Public Service Enterprise Group by 5.6% in the 1st quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider's stock valued at $231,000 after buying an additional 148 shares during the last quarter. Institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

PEG has been the subject of a number of research analyst reports. Evercore ISI cut their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Guggenheim dropped their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Finally, BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $89.54.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded up $0.68 during midday trading on Friday, reaching $83.71. 2,755,999 shares of the company's stock were exchanged, compared to its average volume of 2,783,351. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The company's 50 day simple moving average is $80.34 and its two-hundred day simple moving average is $82.35. Public Service Enterprise Group Incorporated has a 12 month low of $73.11 and a 12 month high of $95.22. The firm has a market capitalization of $41.77 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 2.99 and a beta of 0.48.

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, hitting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares in the company, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company's stock.

About Public Service Enterprise Group

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.