Prudential Financial Inc. grew its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 698,175 shares of the utilities provider’s stock after purchasing an additional 82,314 shares during the period. Prudential Financial Inc. owned approximately 0.14% of Public Service Enterprise Group worth $36,340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in Public Service Enterprise Group by 4.0% during the second quarter. FMR LLC now owns 4,829,070 shares of the utilities provider’s stock valued at $261,445,000 after purchasing an additional 184,169 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at $194,000. Calamos Advisors LLC raised its stake in shares of Public Service Enterprise Group by 6.8% in the third quarter. Calamos Advisors LLC now owns 89,773 shares of the utilities provider’s stock valued at $4,739,000 after acquiring an additional 5,745 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Public Service Enterprise Group by 146.1% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 18,348 shares of the utilities provider’s stock worth $969,000 after buying an additional 10,893 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Public Service Enterprise Group by 20.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,328,952 shares of the utilities provider’s stock worth $228,525,000 after buying an additional 729,547 shares during the period. 66.78% of the stock is currently owned by hedge funds and other institutional investors.

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Several research firms recently commented on PEG. 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. ValuEngine raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Deutsche Bank downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price target on the stock. in a research note on Thursday, February 28th. Wells Fargo & Co raised their price target on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Finally, 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. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Public Service Enterprise Group presently has an average rating of “Buy” and an average price target of $57.76.

NYSE PEG opened at $58.88 on Monday. Public Service Enterprise Group Inc. has a one year low of $46.25 and a one year high of $59.68. The stock has a market cap of $29.76 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.68 and a beta of 0.43. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Public Service Enterprise Group had a net margin of 23.54% and a return on equity of 11.24%. During the same period in the previous year, the company posted $0.57 EPS. On average, equities research analysts expect that Public Service Enterprise Group Inc. will post 3.25 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be issued a $0.47 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 57.69%.

In related news, Chairman Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $54.31, for a total value of $2,846,224.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stuart J. Black sold 6,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.07, for a total transaction of $354,420.00. Following the completion of the sale, the vice president now owns 24,981 shares of the company’s stock, valued at $1,475,627.67. The disclosure for this sale can be found here. Insiders sold a total of 163,219 shares of company stock worth $8,962,684 over the last 90 days. Company insiders own 0.58% of the company’s stock.

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About Public Service Enterprise Group

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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