Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,969 shares of the utilities provider's stock after acquiring an additional 6,428 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Public Service Enterprise Group were worth $8,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PEG. Transce3nd LLC bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $25,000. REAP Financial Group LLC lifted its holdings in shares of 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 worth $27,000 after buying an additional 162 shares during the period. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group during the 4th quarter worth $39,000. Finally, Optiver Holding B.V. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $50,000. Institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

PEG has been the subject of a number of research reports. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Guggenheim dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Evercore ISI reduced 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. Finally, Barclays dropped their target price on 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. 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 company. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Hold" and an average price target of $89.54.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock traded up $0.47 during midday trading on Friday, hitting $81.69. 2,018,416 shares of the company were exchanged, compared to its average volume of 2,779,335. The business has a fifty day simple moving average of $80.42 and a two-hundred day simple moving average of $82.28. 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 firm has a market capitalization of $40.76 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $73.72 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results 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 net margin of 17.01% and a return on equity of 11.80%. The firm 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 firm earned $1.31 EPS. The business's quarterly revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a $0.63 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. Public Service Enterprise Group's payout ratio is 68.85%.

Public Service Enterprise Group Company 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.