Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Fmr LLC

FMR LLC cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,101,776 shares of the utilities provider's stock after selling 299,248 shares during the quarter. FMR LLC owned 1.02% of Public Service Enterprise Group worth $431,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock worth $7,403,000 after buying an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. increased its position in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock worth $2,270,000 after buying an additional 10,610 shares in the last quarter. Arvest Bank Trust Division purchased a new position in Public Service Enterprise Group during the third quarter valued at approximately $2,860,000. Parsons Capital Management Inc. RI bought a new position in Public Service Enterprise Group in the 4th quarter worth approximately $2,565,000. Finally, Czech National Bank grew its position in shares of Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock valued at $9,127,000 after purchasing an additional 6,545 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

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Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded up $0.04 during trading hours on Tuesday, hitting $83.71. The stock had a trading volume of 326,655 shares, compared to its average volume of 2,714,347. Public Service Enterprise Group Incorporated has a 1-year low of $64.03 and a 1-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 stock's fifty day moving average is $81.93 and its two-hundred day moving average is $85.67. The stock has a market capitalization of $41.73 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group's quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.01%. Public Service Enterprise Group's dividend payout ratio is 71.19%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was 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 owns 221,670 shares in the company, valued at approximately $18,372,009.60. The trade was a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

PEG has been the subject of several analyst reports. StockNews.com downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research report on Wednesday, March 19th. BMO Capital Markets lowered their price target on 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, April 10th. Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, Guggenheim reaffirmed a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus price target of $89.35.

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.