ProShare Advisors LLC Buys 9,318 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

ProShare Advisors LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,500 shares of the utilities provider's stock after buying an additional 9,318 shares during the quarter. ProShare Advisors LLC's holdings in Public Service Enterprise Group were worth $6,379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. Quantinno Capital Management LP grew its stake in shares of Public Service Enterprise Group by 26.1% in the fourth quarter. Quantinno Capital Management LP now owns 61,545 shares of the utilities provider's stock worth $5,200,000 after purchasing an additional 12,752 shares during the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $622,000. Man Group plc grew its stake in shares of Public Service Enterprise Group by 57.5% in the fourth quarter. Man Group plc now owns 374,556 shares of the utilities provider's stock worth $31,646,000 after purchasing an additional 136,797 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Public Service Enterprise Group by 1.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 60,457 shares of the utilities provider's stock worth $5,135,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $2,112,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Up 2.1%

NYSE PEG traded up $1.62 during mid-day trading on Friday, reaching $78.99. The stock had a trading volume of 2,572,133 shares, compared to its average volume of 2,749,770. Public Service Enterprise Group Incorporated has a 1 year low of $71.89 and a 1 year high of $95.22. The stock has a market cap of $39.41 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The company has a fifty day moving average price of $80.64 and a 200 day moving average price of $83.89. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

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, hitting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business earned $1.31 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $0.63 dividend. 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 3.19%. Public Service Enterprise Group's payout ratio is currently 68.85%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PEG has been the subject of several research analyst reports. Guggenheim lowered their price objective on shares of 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. BMO Capital Markets lowered their price objective on shares of 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 lowered their target price on shares of 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. Bank of America lowered their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, Barclays lowered their target price 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Hold" and a consensus target price of $89.63.

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.