Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Amundi

Amundi lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,689,546 shares of the utilities provider's stock after acquiring an additional 219,827 shares during the quarter. Amundi owned 0.54% of Public Service Enterprise Group worth $229,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Public Service Enterprise Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock worth $1,051,744,000 after acquiring an additional 49,285 shares during the period. FMR LLC increased its stake in shares of Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after acquiring an additional 877,345 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $376,209,000. Jennison Associates LLC increased its stake in shares of Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after acquiring an additional 1,882,667 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Public Service Enterprise Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider's stock worth $256,012,000 after acquiring an additional 78,452 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $79.10 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market capitalization of $39.44 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.78 and a beta of 0.60. The company's 50 day simple moving average is $84.27 and its 200 day simple moving average is $86.07. Public Service Enterprise Group Incorporated has a 1 year low of $63.31 and a 1 year high of $95.22.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PEG shares. Bank of America dropped their price target on shares of 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 lowered 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. Guggenheim restated a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Finally, StockNews.com upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average target price of $89.83.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares of the company's stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company's stock.

Public Service Enterprise Group Company 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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