Invesco LLC Purchases Shares of 5,392 Public Service Enterprise Group Incorporated (NYSE:PEG)

Invesco LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,392 shares of the utilities provider's stock, valued at approximately $444,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $445,005,000. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group in the fourth quarter valued at about $376,209,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock valued at $169,404,000 after buying an additional 1,719,614 shares during the period. Schroder Investment Management Group boosted its holdings in Public Service Enterprise Group by 234.1% during the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock worth $178,900,000 after buying an additional 1,483,662 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Public Service Enterprise Group by 476.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock worth $75,652,000 after buying an additional 759,873 shares during the period. 73.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PEG shares. Barclays reduced their price objective 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. Guggenheim reduced their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a report on Thursday, April 10th. Evercore ISI cut their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, LADENBURG THALM/SH SH cut 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 note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $89.54.

Public Service Enterprise Group Stock Down 0.4%

Shares of PEG traded down $0.36 during mid-day trading on Wednesday, hitting $82.77. 2,787,860 shares of the company's stock were exchanged, compared to its average volume of 2,809,262. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. 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 cap of $41.30 billion, a PE ratio of 22.61, a P/E/G ratio of 2.99 and a beta of 0.48. The company has a 50-day simple moving average of $80.34 and a 200 day simple moving average of $82.42.

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 earnings per share for the quarter, meeting the consensus estimate 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 quarter last year, the company earned $1.31 EPS. Public Service Enterprise Group's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, research analysts forecast 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 will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend 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%.

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.