Chartwell Investment Partners LLC Sells 6,818 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)


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Chartwell Investment Partners LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 222,693 shares of the utilities provider’s stock after selling 6,818 shares during the period. Chartwell Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $12,983,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PEG. BlackRock Inc. grew its holdings in shares of Public Service Enterprise Group by 2.8% in the fourth quarter. BlackRock Inc. now owns 51,015,043 shares of the utilities provider’s stock worth $2,974,179,000 after purchasing an additional 1,367,836 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Public Service Enterprise Group by 46.6% in the third quarter. JPMorgan Chase & Co. now owns 9,437,664 shares of the utilities provider’s stock valued at $517,186,000 after acquiring an additional 2,999,951 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Public Service Enterprise Group by 0.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,076,978 shares of the utilities provider’s stock valued at $278,777,000 after acquiring an additional 36,206 shares during the last quarter. Energy Income Partners LLC raised its stake in shares of Public Service Enterprise Group by 13.3% during the third quarter. Energy Income Partners LLC now owns 3,624,042 shares of the utilities provider’s stock valued at $198,996,000 after acquiring an additional 424,686 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its holdings in shares of Public Service Enterprise Group by 0.4% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,298,325 shares of the utilities provider’s stock worth $133,992,000 after purchasing an additional 9,970 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

PEG has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on Public Service Enterprise Group from $71.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, January 20th. The Goldman Sachs Group upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $66.00 target price for the company in a report on Thursday, January 14th. KeyCorp cut their price target on shares of Public Service Enterprise Group from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, January 12th. Mizuho decreased their price objective on shares of Public Service Enterprise Group from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Friday, January 8th. Finally, Barclays raised their target price on shares of Public Service Enterprise Group from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 18th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $63.92.

Shares of Public Service Enterprise Group stock opened at $57.09 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.76 and a quick ratio of 0.59. The company has a 50-day moving average of $57.96 and a 200 day moving average of $56.79. The firm has a market cap of $28.88 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 6.10 and a beta of 0.49. Public Service Enterprise Group Incorporated has a 1 year low of $34.75 and a 1 year high of $62.15.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Tuesday, March 9th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Monday, March 8th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.49. Public Service Enterprise Group’s dividend payout ratio is 59.76%.

Public Service Enterprise Group 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 PSEG Power. The PSE&G segment transmits electricity; 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.

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

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