Rhumbline Advisers Raises Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Rhumbline Advisers boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 924,533 shares of the utilities provider's stock after purchasing an additional 29,087 shares during the quarter. Rhumbline Advisers owned about 0.19% of Public Service Enterprise Group worth $76,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Public Service Enterprise Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock worth $5,134,882,000 after buying an additional 492,517 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after acquiring an additional 365,666 shares during the last quarter. Invesco Ltd. grew its position in Public Service Enterprise Group by 10.2% in the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after acquiring an additional 604,978 shares in the last quarter. Northern Trust Corp increased its stake in Public Service Enterprise Group by 6.1% during the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock worth $490,644,000 after acquiring an additional 335,135 shares during the last quarter. Finally, Norges Bank bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $445,005,000. Institutional investors own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Barclays lowered their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research report on Wednesday, March 19th. Finally, Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. One 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, the company presently has an average rating of "Hold" and an average price target of $89.63.

Public Service Enterprise Group Trading Down 0.7%

PEG traded down $0.60 during trading on Thursday, hitting $79.79. 2,076,791 shares of the stock were exchanged, compared to its average volume of 2,784,467. Public Service Enterprise Group Incorporated has a 1 year low of $71.89 and a 1 year high of $95.22. The firm has a market cap of $39.82 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.78 and a beta of 0.48. The firm has a 50 day simple moving average of $80.31 and a 200 day simple moving average of $83.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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 paid a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.16%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company's stock.

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.