Woodline Partners LP Buys Shares of 29,921 Public Service Enterprise Group Incorporated (NYSE:PEG)

Woodline Partners LP purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,921 shares of the utilities provider's stock, valued at approximately $2,528,000.

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

Insider Buying and Selling

In other Public Service Enterprise Group 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 transaction of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Up 1.8%

Shares of NYSE:PEG traded up $1.44 during midday trading on Thursday, reaching $79.53. The company had a trading volume of 1,391,921 shares, compared to its average volume of 2,747,520. The stock has a market capitalization of $39.68 billion, a P/E ratio of 19.52, a PEG ratio of 2.78 and a beta of 0.48. The stock's fifty day moving average price is $80.38 and its 200-day moving average price is $83.77. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm earned $1.31 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. Equities 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 company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of research analyst reports. Guggenheim dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company reduced their target price on 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Hold" and an average price target of $89.63.

About Public Service Enterprise Group

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.