Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 722,245 shares of the utilities provider's stock after purchasing an additional 30,566 shares during the quarter. First Trust Advisors LP owned about 0.14% of Public Service Enterprise Group worth $61,022,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Pine Valley Investments Ltd Liability Co raised its position in Public Service Enterprise Group by 8.5% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 8,527 shares of the utilities provider's stock valued at $761,000 after purchasing an additional 670 shares in the last quarter. World Investment Advisors LLC purchased a new position in Public Service Enterprise Group during the 3rd quarter valued at about $4,403,000. Arvest Bank Trust Division bought a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $2,860,000. Wilmington Savings Fund Society FSB raised its stake in Public Service Enterprise Group by 30.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 10,189 shares of the utilities provider's stock worth $909,000 after buying an additional 2,384 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in Public Service Enterprise Group by 26.9% during the third quarter. Tidal Investments LLC now owns 16,306 shares of the utilities provider's stock worth $1,455,000 after buying an additional 3,461 shares during the period. Institutional investors own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEG. BMO Capital Markets dropped 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 note on Thursday, April 10th. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. Bank of America dropped their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Finally, Guggenheim restated a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.35.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 0.2 %

Public Service Enterprise Group stock traded down $0.20 during trading on Monday, reaching $80.84. The stock had a trading volume of 476,434 shares, compared to its average volume of 2,708,930. Public Service Enterprise Group Incorporated has a 52-week low of $66.57 and a 52-week high of $95.22. The business has a 50 day moving average price of $81.62 and a 200 day moving average price of $85.15. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a market cap of $40.30 billion, a PE ratio of 19.86, a P/E/G ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.12%. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

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.