Envestnet Asset Management Inc. Sells 24,893 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Envestnet Asset Management Inc. lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 965,340 shares of the utilities provider's stock after selling 24,893 shares during the quarter. Envestnet Asset Management Inc. owned 0.19% of Public Service Enterprise Group worth $81,562,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

PEG has been the topic of several research reports. Morgan Stanley boosted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research note on Wednesday, March 19th. Wells Fargo & Company decreased their price target on shares of 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. Finally, BMO Capital Markets dropped 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 note on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Hold" and an average price target of $89.35.

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Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded up $1.71 during trading hours on Monday, hitting $83.85. 365,269 shares of the stock were exchanged, compared to its average volume of 2,871,583. The stock has a market capitalization of $41.80 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.78 and a beta of 0.52. The business's 50-day moving average is $81.94 and its two-hundred day moving average is $85.71. 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 12 month low of $64.03 and a 12 month high of $95.22.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $0.54 EPS. Public Service Enterprise Group's revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $0.63 per share. The ex-dividend date was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's 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 owns 221,670 shares of the company's stock, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company's stock.

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.