First Trust Advisors LP Raises Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Trust Advisors LP increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 722,245 shares of the utilities provider’s stock after acquiring an additional 30,566 shares during the period. First Trust Advisors LP’s holdings in Public Service Enterprise Group were worth $61,022,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $35,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $39,000. Nemes Rush Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at about $53,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth about $54,000. Finally, Financial Life Planners bought a new stake in Public Service Enterprise Group in the fourth quarter worth about $56,000. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Barclays decreased their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Bank of America cut their price target on shares of 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 lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. Finally, StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.35.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $81.99 on Wednesday. The company has a market cap of $40.88 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.78 and a beta of 0.52. 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 price is $81.78 and its 200 day moving average price is $85.36. Public Service Enterprise Group Incorporated has a 1 year low of $65.36 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced 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 business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.