Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 642,933 shares of the utilities provider's stock after selling 45,477 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of Public Service Enterprise Group worth $54,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PEG. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $35,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $39,000. Nemes Rush Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $53,000. Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $54,000. Finally, Financial Life Planners purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $56,000. Institutional investors own 73.34% of the company's stock.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm'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 transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company's stock.

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Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded up $0.01 during midday trading on Tuesday, reaching $83.68. 299,108 shares of the company's stock traded hands, compared to its average volume of 2,714,255. The company has a market cap of $41.72 billion, a P/E ratio of 20.57, a PEG ratio of 2.78 and a beta of 0.52. The company has a fifty day simple moving average of $81.93 and a two-hundred day simple moving average of $85.67. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year 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, 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 revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $0.63 dividend. 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%. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America reduced their price objective on 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. Guggenheim reissued 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. StockNews.com downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price objective 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. Finally, Morgan Stanley increased their target price 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Hold" and a consensus target price of $89.35.

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.