Public Service Enterprise Group Inc. (PEG) Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,212,174 shares of the utilities provider’s stock after buying an additional 120,284 shares during the period. First Trust Advisors LP owned 0.24% of Public Service Enterprise Group worth $63,094,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Public Service Enterprise Group by 0.3% during the third quarter. BlackRock Inc. now owns 48,101,184 shares of the utilities provider’s stock valued at $2,539,261,000 after acquiring an additional 138,508 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 1.4% during the third quarter. Vanguard Group Inc. now owns 40,281,314 shares of the utilities provider’s stock valued at $2,126,450,000 after acquiring an additional 545,315 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Public Service Enterprise Group by 1.4% during the third quarter. Vanguard Group Inc now owns 40,281,314 shares of the utilities provider’s stock valued at $2,126,450,000 after acquiring an additional 545,315 shares during the last quarter. Capital International Investors bought a new position in shares of Public Service Enterprise Group during the third quarter valued at $493,441,000. Finally, FMR LLC raised its stake in shares of Public Service Enterprise Group by 11.8% during the third quarter. FMR LLC now owns 5,397,856 shares of the utilities provider’s stock valued at $284,953,000 after acquiring an additional 568,786 shares during the last quarter. Hedge funds and other institutional investors own 66.78% of the company’s stock.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 25,046 shares of Public Service Enterprise Group stock in a transaction on Friday, November 30th. The shares were sold at an average price of $55.57, for a total value of $1,391,806.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $55.39, for a total transaction of $2,902,823.73. Following the completion of the sale, the chairman now directly owns 515,233 shares of the company’s stock, valued at $28,538,755.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,266 shares of company stock valued at $9,806,747. Insiders own 0.58% of the company’s stock.

PEG opened at $56.91 on Friday. Public Service Enterprise Group Inc. has a 1-year low of $46.19 and a 1-year high of $56.95. The company has a quick ratio of 0.51, a current ratio of 0.72 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $28.42 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.63 and a beta of 0.43.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be paid a $0.47 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, March 7th. Public Service Enterprise Group’s payout ratio is 61.43%.

A number of equities analysts recently weighed in on the stock. ValuEngine raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Wolfe Research raised shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 22nd. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 target price for the company in a research note on Thursday, January 17th. Finally, reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Monday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.04.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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