Invesco Ltd. Acquires 604,978 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Invesco Ltd. lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,525,305 shares of the utilities provider's stock after purchasing an additional 604,978 shares during the quarter. Invesco Ltd. owned 1.31% of Public Service Enterprise Group worth $551,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Center for Financial Planning Inc. grew its stake in shares of Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after buying an additional 120 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after acquiring an additional 121 shares in the last quarter. United Asset Strategies Inc. grew its position in Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock worth $416,000 after acquiring 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 purchasing 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 fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock valued at $128,000 after purchasing an additional 139 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was 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 $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEG. Guggenheim reaffirmed a "buy" rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Bank of America decreased their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company cut their target price on 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. BMO Capital Markets decreased 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 report on Thursday. Finally, Barclays lowered their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $89.35.

Public Service Enterprise Group Stock Up 2.1 %

NYSE PEG traded up $1.73 on Monday, reaching $83.87. The company had a trading volume of 468,442 shares, compared to its average volume of 2,717,402. Public Service Enterprise Group Incorporated has a 52-week low of $64.03 and a 52-week high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $41.81 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.78 and a beta of 0.52. The company's fifty day moving average is $81.94 and its 200 day moving average is $85.71.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company posted $0.54 earnings per share. Public Service Enterprise Group's quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.00%. 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 (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.