Nuveen Asset Management LLC Increases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Nuveen Asset Management LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,406,809 shares of the utilities provider’s stock after purchasing an additional 73,742 shares during the period. Nuveen Asset Management LLC owned 0.28% of Public Service Enterprise Group worth $118,861,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $39,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $50,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BMO Capital Markets decreased their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. StockNews.com downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Morgan Stanley increased their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, Bank of America decreased their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Hold” and an average target price of $88.81.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares in the company, valued at $18,372,009.60. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 1.1%

NYSE:PEG opened at $79.33 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $71.89 and a 1 year high of $95.22. The stock has a market capitalization of $39.58 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.78 and a beta of 0.48. The stock has a fifty day moving average price of $80.87 and a two-hundred day moving average price of $84.15. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business posted $1.31 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

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.