UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 15.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,997,028 shares of the utilities provider's stock after buying an additional 542,671 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.80% of Public Service Enterprise Group worth $337,709,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PEG. Transce3nd LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter worth approximately $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $39,000. Finally, Optiver Holding B.V. purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Down 1.8%

Shares of PEG opened at $77.94 on Thursday. Public Service Enterprise Group Incorporated has a 12-month low of $71.89 and a 12-month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $38.89 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The business's 50 day moving average is $80.80 and its 200 day moving average is $83.95.

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 the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the business posted $1.31 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Insider Activity

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

Analysts Set New Price Targets

PEG has been the topic of several research reports. Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. 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 for the company. in a research report on Wednesday, March 19th. StockNews.com downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Bank of America dropped their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, Barclays reduced their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group has an average rating of "Hold" and a consensus target price of $88.81.

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.

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