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

JPMorgan Chase & Co. cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.4% during the 4th quarter, according to its most recent Form 13F 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 period. JPMorgan Chase & Co. owned 2.90% of Public Service Enterprise Group worth $1,220,679,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Elo Mutual Pension Insurance Co raised its stake in shares of Public Service Enterprise Group by 19.5% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 52,532 shares of the utilities provider’s stock valued at $4,438,000 after purchasing an additional 8,567 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Public Service Enterprise Group by 8.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 774,953 shares of the utilities provider’s stock valued at $66,840,000 after buying an additional 57,706 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $89,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Public Service Enterprise Group by 604.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after buying an additional 1,719,614 shares during the last quarter. Finally, Florida Financial Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $209,000. 73.34% of the stock is currently owned by institutional investors.

Insider Activity 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 that occurred 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 completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 1.0 %

Shares of Public Service Enterprise Group stock 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 1-year low of $64.03 and a 1-year high of $95.22. The business’s fifty 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 PEG ratio of 2.78 and a beta of 0.60.

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 for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS 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. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.12%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Analysts Set New Price Targets

PEG has been the topic of several research analyst reports. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. BMO Capital Markets increased their price objective on shares of 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. Guggenheim restated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

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.