Vanguard Group Inc. Has $5.13 Billion Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Vanguard Group Inc. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 60,775,030 shares of the utilities provider’s stock after acquiring an additional 492,517 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Public Service Enterprise Group worth $5,134,882,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PEG. Empowered Funds LLC raised its stake in Public Service Enterprise Group by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider’s stock worth $746,000 after buying an additional 597 shares during the period. Advisors Asset Management Inc. raised its stake in Public Service Enterprise Group by 16.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,433 shares of the utilities provider’s stock worth $931,000 after buying an additional 1,453 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Public Service Enterprise Group by 10.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,423 shares of the utilities provider’s stock worth $12,259,000 after buying an additional 12,593 shares during the period. Intech Investment Management LLC raised its stake in Public Service Enterprise Group by 58.6% during the 3rd quarter. Intech Investment Management LLC now owns 29,352 shares of the utilities provider’s stock worth $2,618,000 after buying an additional 10,850 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Public Service Enterprise Group by 27.1% during the 3rd quarter. Pacer Advisors Inc. now owns 84,044 shares of the utilities provider’s stock worth $7,498,000 after buying an additional 17,909 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.4 %

Public Service Enterprise Group stock opened at $83.00 on Monday. Public Service Enterprise Group Incorporated has a 52 week low of $64.03 and a 52 week high of $95.22. 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 stock has a market capitalization of $41.38 billion, a P/E ratio of 20.39, a PEG ratio of 2.78 and a beta of 0.60. The stock has a 50-day simple moving average of $83.50 and a 200 day simple moving average of $86.10.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion during 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 business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is 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 3.04%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insiders Place Their Bets

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 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 $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several research analyst reports. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Morgan Stanley lifted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $89.65.

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.