ProShare Advisors LLC Purchases 9,318 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

ProShare Advisors LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,500 shares of the utilities provider’s stock after buying an additional 9,318 shares during the quarter. ProShare Advisors LLC’s holdings in Public Service Enterprise Group were worth $6,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PEG. Vanguard Group Inc. increased its position in Public Service Enterprise Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider’s stock worth $5,134,882,000 after purchasing an additional 492,517 shares during the last quarter. Geode Capital Management LLC increased its stake in Public Service Enterprise Group by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider’s stock worth $1,027,725,000 after purchasing an additional 365,666 shares during the period. Invesco Ltd. lifted its holdings in Public Service Enterprise Group by 10.2% during the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider’s stock valued at $551,323,000 after buying an additional 604,978 shares in the last quarter. Northern Trust Corp raised its stake in shares of Public Service Enterprise Group by 6.1% during the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider’s stock valued at $490,644,000 after acquiring an additional 335,135 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $445,005,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $79.33 on Monday. The company has a fifty day moving average of $80.87 and a two-hundred day moving average of $84.08. Public Service Enterprise Group Incorporated has a fifty-two week low of $71.89 and a fifty-two week high of $95.22. The stock has a market capitalization of $39.58 billion, a PE ratio of 19.49, a P/E/G ratio of 2.78 and a beta of 0.48. 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 issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 earnings per share. As a group, research analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $0.63 dividend. 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 dividend payout ratio is presently 68.85%.

Analyst Upgrades and Downgrades

PEG has been the subject of several research reports. 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 for the company. in a research report on Wednesday, March 19th. Guggenheim cut their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. StockNews.com lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st. BMO Capital Markets reduced their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley boosted their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $88.81.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’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 transaction, the chief executive officer now owns 221,670 shares of the company’s stock, valued at $18,372,009.60. This represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, 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.