First Trust Advisors LP Increases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Trust Advisors LP grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 722,245 shares of the utilities provider's stock after buying an additional 30,566 shares during the period. First Trust Advisors LP owned approximately 0.14% of Public Service Enterprise Group worth $61,022,000 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. Center for Financial Planning Inc. raised its holdings in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after acquiring an additional 120 shares during the last quarter. Spire Wealth Management raised its stake in shares of Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock worth $440,000 after purchasing an additional 121 shares during the last quarter. United Asset Strategies Inc. boosted its position in shares of Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock valued at $416,000 after buying an additional 127 shares during the last quarter. Fifth Third Bancorp increased its holdings in Public Service Enterprise Group by 0.4% in the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock worth $2,990,000 after buying an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Public Service Enterprise Group by 10.1% in the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock worth $128,000 after buying an additional 139 shares during the last quarter. Institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Guggenheim reiterated a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research note 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 note on Monday, March 3rd. Wells Fargo & Company cut their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $89.35.

Public Service Enterprise Group Stock Performance

PEG opened at $81.99 on Wednesday. The firm has a market cap of $40.88 billion, a P/E ratio of 20.15, a PEG ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 1-year low of $65.36 and a 1-year high of $95.22. The company has a 50 day simple moving average of $81.78 and a two-hundred day simple moving average of $85.36. 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 (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (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 during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $0.54 EPS. Public Service Enterprise Group's revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 71.19%.

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 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 sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. The trade was a 0.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company's stock.

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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