FIL Ltd Sells 60,856 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

FIL Ltd decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 47.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,237 shares of the utilities provider's stock after selling 60,856 shares during the quarter. FIL Ltd's holdings in Public Service Enterprise Group were worth $5,765,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. Foundations Investment Advisors LLC raised its position in Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock worth $7,403,000 after purchasing an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. increased its stake in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock valued at $2,270,000 after buying an additional 10,610 shares during the period. Arvest Bank Trust Division bought a new position in shares of Public Service Enterprise Group during the third quarter worth about $2,860,000. Parsons Capital Management Inc. RI acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $2,565,000. Finally, Czech National Bank boosted its holdings in Public Service Enterprise Group by 6.4% in the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock valued at $9,127,000 after acquiring an additional 6,545 shares during the last quarter. Institutional investors own 73.34% of the company's stock.

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Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on 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 directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of 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 stock an "overweight" rating in a research report on Thursday, March 20th. Guggenheim reaffirmed a "buy" rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets lowered their price objective on 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. StockNews.com raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, 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 note on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and a consensus price target of $89.35.

Public Service Enterprise Group Stock Down 0.6 %

Shares of NYSE:PEG traded down $0.46 during midday trading on Wednesday, hitting $83.07. 1,989,616 shares of the company's stock were exchanged, compared to its average volume of 2,722,532. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $64.40 and a 12 month high of $95.22. The company has a market cap of $41.42 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The stock has a 50 day moving average price of $81.92 and a 200-day moving average price of $85.66.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The company's quarterly revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 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.