Massachusetts Financial Services Co. MA Sells 15,941 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Massachusetts Financial Services Co. MA lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,656,100 shares of the utilities provider’s stock after selling 15,941 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Public Service Enterprise Group were worth $308,904,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PEG shares. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a report on Wednesday, March 19th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Guggenheim reaffirmed a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group Trading Up 0.7 %

NYSE PEG opened at $83.85 on Thursday. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one year high of $95.22. 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 firm has a market cap of $41.80 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.78 and a beta of 0.60. The stock’s 50-day moving average is $82.68 and its 200-day moving average is $86.10.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The firm 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 business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $0.63 dividend. 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. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.