First Trust Direct Indexing L.P. Purchases 183 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

First Trust Direct Indexing L.P. grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,483 shares of the utilities provider’s stock after purchasing an additional 183 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Public Service Enterprise Group were worth $1,167,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PEG. Rockline Wealth Management LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $1,185,000. Allspring Global Investments Holdings LLC increased its position in Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after buying an additional 17,838 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Public Service Enterprise Group by 79.9% in the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after buying an additional 397,606 shares during the period. TD Asset Management Inc lifted its position in shares of Public Service Enterprise Group by 16.6% during the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock valued at $23,047,000 after buying an additional 53,577 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Public Service Enterprise Group by 5,613.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after buying an additional 169,425 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $73.99 on Friday. The firm has a market cap of $36.85 billion, a P/E ratio of 20.50, a P/E/G ratio of 3.07 and a beta of 0.59. The firm’s fifty day moving average is $73.23 and its 200 day moving average is $66.07. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $75.82. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. The firm’s quarterly revenue was down 26.5% on a year-over-year basis. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Friday, June 7th. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEG. Scotiabank lowered their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Mizuho boosted their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Monday, June 17th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $69.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Bank of America lifted their price target on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.42.

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.