Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 44.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 592,649 shares of the utilities provider's stock after selling 469,731 shares during the period. Wellington Management Group LLP owned about 0.12% of Public Service Enterprise Group worth $50,073,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PEG. Transce3nd LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $25,000. REAP Financial Group LLC grew its stake in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after purchasing an additional 162 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $35,000. Finally, OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at $39,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction 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 approximately $17,523,831.18. This represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Up 1.3%

NYSE PEG traded up $1.05 during trading hours on Tuesday, hitting $82.95. 1,492,690 shares of the company's stock were exchanged, compared to its average volume of 2,775,540. The business's 50 day moving average is $80.30 and its 200-day moving average is $83.58. Public Service Enterprise Group Incorporated has a 12-month low of $71.89 and a 12-month high of $95.22. The firm has a market capitalization of $41.39 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. 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 EPS for the quarter, hitting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business posted $1.31 EPS. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is presently 68.85%.

Analysts Set New Price Targets

Several research firms have recently commented on PEG. Guggenheim reduced their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. BMO Capital Markets reduced 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 report on Thursday, April 10th. Barclays reduced their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, 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. One investment 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.