Capital World Investors Trims Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Capital World Investors trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,236,757 shares of the utilities provider's stock after selling 1,332,485 shares during the quarter. Capital World Investors owned approximately 1.05% of Public Service Enterprise Group worth $442,454,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley increased their price objective 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. Guggenheim reaffirmed a "buy" rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets cut their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. Finally, Barclays lowered their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average price target of $89.35.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares in the company, valued at approximately $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Down 1.3 %

Shares of NYSE:PEG traded down $1.09 during mid-day trading on Friday, reaching $80.63. 710,423 shares of the company were exchanged, compared to its average volume of 2,709,483. Public Service Enterprise Group Incorporated has a 1 year low of $66.57 and a 1 year high of $95.22. 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 firm's 50-day simple moving average is $81.70 and its 200 day simple moving average is $85.28. The firm has a market cap of $40.20 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 2.78 and a beta of 0.52.

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

Public Service Enterprise Group Dividend Announcement

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 is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.13%. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

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.