Charles Schwab Investment Management Inc. Increases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Charles Schwab Investment Management Inc. increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,030,083 shares of the utilities provider's stock after acquiring an additional 78,452 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.61% of Public Service Enterprise Group worth $256,012,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock valued at $1,051,744,000 after purchasing an additional 49,285 shares during the period. FMR LLC raised its position in shares of Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after purchasing an additional 877,345 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock valued at $285,982,000 after buying an additional 1,882,667 shares during the last quarter. Franklin Resources Inc. raised its holdings in Public Service Enterprise Group by 5.9% in the third quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider's stock valued at $235,194,000 after acquiring an additional 147,903 shares in the last quarter. Finally, abrdn plc boosted its stake in Public Service Enterprise Group by 0.6% during the 4th quarter. abrdn plc now owns 1,803,046 shares of the utilities provider's stock valued at $151,546,000 after acquiring an additional 10,860 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Wednesday. Barclays cut Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Guggenheim reiterated 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. Bank of America dropped their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus target price of $89.83.

Public Service Enterprise Group Trading Up 0.3 %

Shares of PEG stock opened at $81.68 on Thursday. The firm has a market capitalization of $40.70 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 1 year low of $63.31 and a 1 year high of $95.22. The stock has a fifty day moving average of $84.54 and a two-hundred day moving average of $86.06.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released 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. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the company earned $0.54 EPS. Public Service Enterprise Group's quarterly revenue was down 5.4% on a year-over-year basis. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

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.

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