Wellington Management Group LLP Cuts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Wellington Management Group LLP lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 44.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 592,649 shares of the utilities provider's stock after selling 469,731 shares during the period. Wellington Management Group LLP owned about 0.12% of Public Service Enterprise Group worth $50,073,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Public Service Enterprise Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock worth $5,134,882,000 after buying an additional 492,517 shares in the last quarter. Geode Capital Management LLC increased its stake in Public Service Enterprise Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock worth $1,051,744,000 after buying an additional 49,285 shares in the last quarter. Norges Bank purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $445,005,000. Raymond James Financial Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $376,209,000. Finally, Jennison Associates LLC increased its stake in Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after buying an additional 1,882,667 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

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Analyst Ratings Changes

PEG has been the subject of several research reports. Barclays cut their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday. BMO Capital Markets lowered their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday. Bank of America lowered their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. Finally, Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a report on Thursday, December 12th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $89.35.

Public Service Enterprise Group Stock Down 0.6 %

Shares of Public Service Enterprise Group stock traded down $0.53 during trading hours on Thursday, reaching $81.30. 662,627 shares of the company were exchanged, compared to its average volume of 2,708,151. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The stock's fifty day moving average is $82.01 and its 200 day moving average is $85.81. 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 firm has a market cap of $40.53 billion, a PE ratio of 19.95, a PEG ratio of 2.78 and a beta of 0.52.

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, topping 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 business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The company's revenue was down 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current 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 issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.10%. The ex-dividend date was Monday, March 10th. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is 71.19%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value 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 represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.