Charles Schwab Investment Management Inc. Boosts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,826,477 shares of the utilities provider’s stock after purchasing an additional 30,469 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.57% of Public Service Enterprise Group worth $172,839,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after purchasing an additional 7,103,657 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Public Service Enterprise Group by 118.1% in the third quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock valued at $77,544,000 after acquiring an additional 738,684 shares during the period. Assetmark Inc. lifted its holdings in shares of Public Service Enterprise Group by 562.8% in the 3rd quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock worth $49,504,000 after acquiring an additional 738,619 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Public Service Enterprise Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after purchasing an additional 726,613 shares during the period. Finally, Bank of Nova Scotia grew its holdings in Public Service Enterprise Group by 1,350.4% during the 3rd quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock valued at $30,353,000 after purchasing an additional 496,581 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent analyst reports. Evercore ISI boosted their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Barclays lifted their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.15.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders sold a total of 9,322 shares of company stock worth $607,376 in the last 90 days. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Up 1.4 %

Public Service Enterprise Group stock opened at $73.60 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The firm has a market cap of $36.66 billion, a P/E ratio of 20.39, a P/E/G ratio of 3.08 and a beta of 0.56. The business has a fifty day moving average of $66.20 and a two-hundred day moving average of $62.87. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $73.65.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company earned $1.39 earnings per share. The company’s revenue for the quarter was down 26.5% compared to the same quarter last year. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

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.