Calamos Advisors LLC Decreases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Calamos Advisors LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 149,755 shares of the utilities provider’s stock after selling 1,957 shares during the quarter. Calamos Advisors LLC’s holdings in Public Service Enterprise Group were worth $9,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 13.0% during the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after acquiring an additional 7,103,657 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after buying an additional 726,613 shares during the period. Geode Capital Management LLC grew its position in shares of Public Service Enterprise Group by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utilities provider’s stock worth $638,876,000 after buying an additional 221,305 shares during the last quarter. Legal & General Group Plc grew its position in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock worth $401,173,000 after buying an additional 87,974 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Public Service Enterprise Group by 2.8% during the third quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock valued at $350,395,000 after buying an additional 170,586 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Bank of America increased their price target on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.58.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was 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 approximately $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Insiders have sold a total of 7,948 shares of company stock valued at $510,300 in the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $65.74 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average price is $63.84 and its 200-day moving average price is $61.92. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $67.51. The stock has a market cap of $32.78 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.85 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the firm posted $0.64 EPS. The business’s revenue for the quarter was down 17.0% compared to the same quarter last year. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.65%. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

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.