Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,126 shares of the utilities provider's stock after purchasing an additional 3,601 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Public Service Enterprise Group were worth $7,417,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position 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 valued at $5,134,882,000 after acquiring an additional 492,517 shares during the period. Geode Capital Management LLC grew its position in Public Service Enterprise Group by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock worth $1,027,725,000 after purchasing an additional 365,666 shares during the period. Invesco Ltd. grew its position in Public Service Enterprise Group by 10.2% during the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after purchasing an additional 604,978 shares during the period. Northern Trust Corp grew its position in Public Service Enterprise Group by 6.1% during the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock worth $490,644,000 after purchasing an additional 335,135 shares during the period. Finally, Norges Bank acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $445,005,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 0.3%

PEG stock opened at $83.11 on Wednesday. The firm has a market cap of $41.47 billion, a PE ratio of 22.71, a PEG ratio of 2.99 and a beta of 0.48. 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's 50 day moving average price is $80.34 and its 200-day moving average price is $82.42. Public Service Enterprise Group Incorporated has a one year low of $72.82 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS 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 for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the company earned $1.31 EPS. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Analyst Ratings Changes

PEG has been the topic of several analyst reports. BMO Capital Markets cut their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a research note on Wednesday, March 19th. Barclays lowered their target price 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. Finally, Evercore ISI decreased their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Hold" and a consensus target price of $89.54.

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.

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