Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,656,100 shares of the utilities provider's stock after selling 15,941 shares during the period. Massachusetts Financial Services Co. MA owned about 0.73% of Public Service Enterprise Group worth $308,904,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Townsquare Capital LLC grew its stake in shares of Public Service Enterprise Group by 15.6% in the third quarter. Townsquare Capital LLC now owns 5,001 shares of the utilities provider's stock valued at $446,000 after buying an additional 674 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth $372,000. Janus Henderson Group PLC grew its stake in shares of Public Service Enterprise Group by 12.5% during the third quarter. Janus Henderson Group PLC now owns 107,082 shares of the utilities provider's stock worth $9,553,000 after purchasing an additional 11,864 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Public Service Enterprise Group by 8,334.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 380,832 shares of the utilities provider's stock valued at $33,974,000 after buying an additional 376,317 shares during the last quarter. Finally, Investment Management Corp of Ontario raised its stake in Public Service Enterprise Group by 13.1% in the third quarter. Investment Management Corp of Ontario now owns 47,421 shares of the utilities provider's stock valued at $4,230,000 after buying an additional 5,500 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Public Service Enterprise Group Trading Down 1.2 %

Shares of NYSE:PEG traded down $0.91 during trading on Monday, reaching $76.83. The stock had a trading volume of 1,777,140 shares, compared to its average volume of 2,686,205. 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 cap of $38.30 billion, a P/E ratio of 18.82, a PEG ratio of 2.78 and a beta of 0.52. The business has a fifty day moving average price of $82.34 and a 200-day moving average price of $86.04. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (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 business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business's revenue was down 5.4% on a year-over-year basis. As a group, 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. Shareholders of record on Monday, March 10th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Monday, March 10th. This is a boost 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 on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PEG has been the topic of several research analyst reports. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Guggenheim restated a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley upped their price objective on shares of 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. Finally, StockNews.com upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Friday, March 14th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $89.65.

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.