Capital Research Global Investors Has $401.92 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Capital Research Global Investors lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,756,965 shares of the utilities provider's stock after acquiring an additional 15,332 shares during the period. Capital Research Global Investors owned about 0.95% of Public Service Enterprise Group worth $401,916,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PEG. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $35,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $39,000. Nemes Rush Group LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $53,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter valued at approximately $54,000. Finally, Millstone Evans Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth $56,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PEG. Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets dropped their price target on shares of 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. Barclays reduced their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average target price of $89.35.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Down 1.3 %

PEG stock traded down $1.09 during mid-day trading on Friday, reaching $80.63. 710,423 shares of the stock traded hands, compared to its average volume of 2,709,483. Public Service Enterprise Group Incorporated has a 52-week low of $66.57 and a 52-week high of $95.22. The stock's fifty day moving average is $81.70 and its 200-day moving average is $85.28. The company has a market cap of $40.20 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.78 and a beta of 0.52. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 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 down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. As a group, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 71.19%.

Public Service Enterprise Group Company 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.