Envestnet Portfolio Solutions Inc. Reduces Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Envestnet Portfolio Solutions Inc. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,551 shares of the utilities provider's stock after selling 6,608 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Public Service Enterprise Group were worth $1,905,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $35,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group in the fourth quarter worth $39,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at about $54,000. Financial Life Planners bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $56,000. Finally, Brown Lisle Cummings Inc. purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.57% of the company's stock.

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Public Service Enterprise Group Stock Down 2.2 %

PEG traded down $1.82 during midday trading on Tuesday, reaching $81.51. The company's stock had a trading volume of 2,615,215 shares, compared to its average volume of 2,546,492. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The stock's 50-day moving average is $83.48 and its 200-day moving average is $86.11. The firm has a market capitalization of $40.64 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

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 for the quarter, beating 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 company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company earned $0.54 EPS. The firm's revenue for the quarter was down 5.4% on a year-over-year basis. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group's payout ratio is 71.19%.

Analyst Ratings Changes

Several brokerages recently weighed in on PEG. Guggenheim restated a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Friday, March 14th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a research note on Wednesday, March 19th. Finally, Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.