Massachusetts Financial Services Co. MA Has $308.90 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,656,100 shares of the utilities provider’s stock after selling 15,941 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.73% of Public Service Enterprise Group worth $308,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group during the fourth quarter valued at about $35,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $39,000. Nemes Rush Group LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $53,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $54,000. Finally, Financial Life Planners bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $56,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.85 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average price of $82.68 and a 200 day moving average price of $86.10. The firm has a market capitalization of $41.80 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $0.54 EPS. Public Service Enterprise Group’s revenue was down 5.4% on a year-over-year basis. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.01%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PEG shares. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Bank of America dropped their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Guggenheim restated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group 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.