Massachusetts Financial Services Co. MA Purchases 4,028 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Massachusetts Financial Services Co. MA boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,660,128 shares of the utilities provider's stock after purchasing an additional 4,028 shares during the period. Massachusetts Financial Services Co. MA owned about 0.73% of Public Service Enterprise Group worth $301,229,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PEG. Transce3nd LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $25,000. REAP Financial Group LLC increased its position in Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. Optiver Holding B.V. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $50,000. Finally, Nemes Rush Group LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $53,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Up 1.7%

PEG traded up $1.43 during trading on Friday, reaching $84.18. The company had a trading volume of 1,529,988 shares, compared to its average volume of 2,766,712. 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 12 month low of $73.72 and a 12 month high of $95.22. The business's fifty day moving average price is $80.88 and its 200 day moving average price is $82.09. The company has a market cap of $42.00 billion, a P/E ratio of 23.00, a PEG ratio of 2.94 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 earnings per share for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The business's revenue was up 16.7% on a year-over-year basis. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is presently 68.85%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Guggenheim lowered their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. UBS Group upgraded shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $86.00 to $97.00 in a research report on Monday, July 7th. Barclays lowered their price target on shares of 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, July 10th. Finally, Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average target price of $89.86.

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.