ProShare Advisors LLC Has $6.38 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

ProShare Advisors LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 75,500 shares of the utilities provider’s stock after purchasing an additional 9,318 shares during the period. ProShare Advisors LLC’s holdings in Public Service Enterprise Group were worth $6,379,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of PEG. Center for Financial Planning Inc. grew its holdings in shares of Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 120 shares in the last quarter. Spire Wealth Management lifted its holdings in Public Service Enterprise Group by 2.4% during the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 121 shares during the last quarter. United Asset Strategies Inc. lifted its stake in shares of Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after buying an additional 127 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after acquiring an additional 139 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after buying an additional 139 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

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

Public Service Enterprise Group Price Performance

PEG stock opened at $79.33 on Monday. 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 firm has a 50 day moving average price of $80.87 and a 200-day moving average price of $84.08. Public Service Enterprise Group Incorporated has a 52-week low of $71.89 and a 52-week high of $95.22. The firm 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.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. Evercore ISI decreased their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Bank of America lowered their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $88.81.

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.