Ensign Peak Advisors Inc Trims Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ensign Peak Advisors Inc trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,473 shares of the utilities provider's stock after selling 9,171 shares during the quarter. Ensign Peak Advisors Inc's holdings in Public Service Enterprise Group were worth $10,855,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PEG. Principal Financial Group Inc. grew its stake in Public Service Enterprise Group by 3.1% in the third quarter. Principal Financial Group Inc. now owns 602,574 shares of the utilities provider's stock valued at $53,756,000 after purchasing an additional 18,344 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Public Service Enterprise Group by 5.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 82,575 shares of the utilities provider's stock worth $7,367,000 after acquiring an additional 4,072 shares during the last quarter. Czech National Bank increased its holdings in shares of Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock worth $9,127,000 after acquiring an additional 6,545 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Public Service Enterprise Group by 67.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,119 shares of the utilities provider's stock worth $95,000 after acquiring an additional 451 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in shares of Public Service Enterprise Group by 11.9% during the 4th quarter. Wedmont Private Capital now owns 6,112 shares of the utilities provider's stock worth $515,000 after acquiring an additional 649 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 221,093 shares in the company, valued at approximately $17,523,831.18. This trade represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PEG. Morgan Stanley boosted their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Evercore ISI reduced their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Barclays reduced their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets cut 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 report on Thursday, April 10th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $88.81.

Public Service Enterprise Group Trading Up 1.1%

Shares of Public Service Enterprise Group stock traded up $0.89 during trading on Friday, hitting $79.33. The company's stock had a trading volume of 3,990,107 shares, compared to its average volume of 2,729,559. The stock has a 50-day moving average price of $80.86 and a two-hundred day moving average price of $84.21. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market cap of $39.58 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 52 week low of $71.89 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend yield of 3.18%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

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.