Public Service Enterprise Group Incorporated (NYSE:PEG) Position Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,447,614 shares of the utilities provider’s stock after selling 3,036,054 shares during the quarter. JPMorgan Chase & Co.’s holdings in Public Service Enterprise Group were worth $1,220,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $35,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $39,000. Stonebridge Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $56,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at $56,000. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $80.72 on Friday. 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 Incorporated has a one year low of $64.03 and a one year high of $95.22. The business’s 50-day moving average price is $83.16 and its two-hundred day moving average price is $86.05. The company has a market capitalization of $40.24 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is 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 payout ratio is presently 71.19%.

Analysts Set New Price Targets

Several brokerages have commented on PEG. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price on the stock. in a research note on Wednesday, March 19th. Scotiabank increased their target price 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. Finally, Bank of America lowered their price target 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. Seven investment 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, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price 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.