Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 31.7% during the first quarter, according to its most recent disclosure with the Securities & 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 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Sterling Investment Counsel LLC boosted its stake in shares of Public Service Enterprise Group by 8.0% in the first quarter. Sterling Investment Counsel LLC now owns 3,899 shares of the utilities provider's stock worth $321,000 after buying an additional 290 shares during the last quarter. Harrell Investment Partners LLC boosted its position in Public Service Enterprise Group by 0.7% during the first quarter. Harrell Investment Partners LLC now owns 30,710 shares of the utilities provider's stock worth $2,527,000 after purchasing an additional 216 shares in the last quarter. Centennial Wealth Advisory LLC boosted its position in Public Service Enterprise Group by 35.0% during the first quarter. Centennial Wealth Advisory LLC now owns 9,142 shares of the utilities provider's stock worth $752,000 after purchasing an additional 2,369 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Public Service Enterprise Group by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 58,395 shares of the utilities provider's stock worth $4,805,000 after purchasing an additional 1,585 shares in the last quarter. Finally, LifeWealth Investments LLC boosted its position in Public Service Enterprise Group by 72.2% during the first quarter. LifeWealth Investments LLC now owns 6,979 shares of the utilities provider's stock worth $574,000 after purchasing an additional 2,927 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Trading Down 0.4%

Public Service Enterprise Group stock traded down $0.36 during trading on Wednesday, reaching $82.77. 2,787,860 shares of the company were exchanged, compared to its average volume of 2,813,873. Public Service Enterprise Group Incorporated has a 52-week low of $72.82 and a 52-week high of $95.22. The company has a market capitalization of $41.30 billion, a P/E ratio of 22.61, a PEG ratio of 2.98 and a beta of 0.48. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. The stock's 50 day simple moving average is $80.33 and its two-hundred day simple moving average is $82.43.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting 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 firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the business posted $1.31 earnings per share. The firm's revenue was up 16.7% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. Public Service Enterprise Group's payout ratio is 68.85%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. 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 research report on Monday, March 3rd. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Barclays lowered their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Evercore ISI decreased their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus target price of $89.54.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares of the company's stock, valued at $17,523,831.18. This trade represents a 0.62% 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. 0.19% of the stock is owned by insiders.

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.