Wealthfront Advisers LLC Reduces Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Wealthfront Advisers LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 88.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,385 shares of the utilities provider's stock after selling 25,583 shares during the period. Wealthfront Advisers LLC's holdings in Public Service Enterprise Group were worth $286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Public Service Enterprise Group in the 4th quarter valued at $376,209,000. Jennison Associates LLC grew its position in Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock valued at $285,982,000 after acquiring an additional 1,882,667 shares during the last quarter. FMR LLC grew its position in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after acquiring an additional 877,345 shares during the last quarter. National Bank of Canada FI grew its position in Public Service Enterprise Group by 376.3% in the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock valued at $72,321,000 after acquiring an additional 640,485 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Public Service Enterprise Group by 103.6% in the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider's stock valued at $80,313,000 after acquiring an additional 483,795 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

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Public Service Enterprise Group Stock Performance

NYSE:PEG traded down $0.30 during trading hours on Friday, reaching $83.00. The company had a trading volume of 5,252,427 shares, compared to its average volume of 2,555,787. Public Service Enterprise Group Incorporated has a 1-year low of $63.68 and a 1-year high of $95.22. The firm has a market cap of $41.38 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The business's 50 day moving average price is $83.53 and its 200-day moving average price is $86.01. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

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 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion during 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%. The business's revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given 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 dividend on an annualized basis and a dividend yield of 3.04%. Public Service Enterprise Group's payout ratio is 71.19%.

Insider Activity

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 stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank of America dropped their price target 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. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Wells Fargo & Company dropped their price target on 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 reissued a "buy" rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, BMO Capital Markets increased their price target on 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. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $89.65.

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.