Geode Capital Management LLC Has $1.03 Billion Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Geode Capital Management LLC boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,195,300 shares of the utilities provider's stock after buying an additional 365,666 shares during the quarter. Geode Capital Management LLC owned 2.45% of Public Service Enterprise Group worth $1,027,725,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PEG. Center for Financial Planning Inc. increased its holdings in shares of 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 valued at $349,000 after acquiring an additional 120 shares during the period. Spire Wealth Management increased its stake in Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after purchasing an additional 121 shares in the last quarter. United Asset Strategies Inc. grew its holdings in Public Service Enterprise Group by 2.6% in the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock valued at $416,000 after purchasing an additional 127 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock valued at $2,990,000 after buying an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently commented on PEG. Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research report on Thursday, December 12th. Guggenheim reissued a "buy" rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Wells Fargo & Company cut 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 report on Wednesday, February 26th. Morgan Stanley increased their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.65.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $0.73 during trading hours on Monday, hitting $77.00. 1,777,140 shares of the stock were exchanged, compared to its average volume of 2,686,125. The firm has a market capitalization of $38.39 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one 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 company's 50 day moving average is $82.34 and its 200 day moving average is $86.04.

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, beating 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 company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.54 earnings per share. The firm's revenue was down 5.4% compared to the same quarter last year. On average, 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 business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.27%. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 71.19%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred 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. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

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.