Duff & Phelps Investment Management Co. Decreases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Duff & Phelps Investment Management Co. reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,820,956 shares of the utilities provider's stock after selling 113,226 shares during the quarter. Public Service Enterprise Group makes up about 1.3% of Duff & Phelps Investment Management Co.'s portfolio, making the stock its 23rd largest position. Duff & Phelps Investment Management Co. owned 0.37% of Public Service Enterprise Group worth $111,351,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Rockline Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $1,185,000. Allspring Global Investments Holdings LLC boosted its position in shares of Public Service Enterprise Group by 4.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider's stock worth $25,397,000 after purchasing an additional 17,838 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Public Service Enterprise Group by 79.9% in the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider's stock valued at $54,757,000 after buying an additional 397,606 shares during the period. International Assets Investment Management LLC raised its stake in Public Service Enterprise Group by 5,613.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider's stock worth $10,545,000 after buying an additional 169,425 shares during the period. Finally, PATRIZIA Pty Ltd bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $5,158,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of PEG traded up $0.44 during midday trading on Tuesday, reaching $69.08. The stock had a trading volume of 4,890,606 shares, compared to its average volume of 2,869,261. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $34.44 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. The company's 50-day moving average is $64.82 and its 200 day moving average is $62.37. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $69.79.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. Public Service Enterprise Group's quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.47%. Public Service Enterprise Group's payout ratio is 46.78%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares of the company's stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,948 shares of company stock valued at $511,814. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Barclays boosted their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. TheStreet raised Public Service Enterprise Group from a "c+" rating to a "b-" rating in a research report on Wednesday, March 6th. Bank of America increased their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Finally, Wells Fargo & Company upped their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.15.

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.