Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Position Lessened by Xponance Inc.

Xponance Inc. decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,743 shares of the utilities provider's stock after selling 3,702 shares during the quarter. Xponance Inc.'s holdings in Public Service Enterprise Group were worth $6,151,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Transce3nd LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $25,000. REAP Financial Group LLC boosted its holdings in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. Optiver Holding B.V. acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $50,000. Finally, Nemes Rush Group LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $53,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.4%

Shares of PEG traded up $0.36 during midday trading on Friday, reaching $82.52. 1,870,718 shares of the company were exchanged, compared to its average volume of 2,770,363. Public Service Enterprise Group Incorporated has a 1-year low of $73.72 and a 1-year high of $95.22. The company has a market cap of $41.18 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 2.96 and a beta of 0.48. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average price of $80.63 and a 200-day moving average price of $82.14.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company earned $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 year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays reduced their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday. BMO Capital Markets reduced their target price 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. UBS Group upgraded Public Service Enterprise Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $86.00 to $97.00 in a research note on Monday, July 7th. Finally, Guggenheim reduced their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.38.

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.