Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Balentine LLC

Balentine LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,034 shares of the utilities provider’s stock after selling 984 shares during the period. Balentine LLC’s holdings in Public Service Enterprise Group were worth $308,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Modera Wealth Management LLC raised its holdings in shares of Public Service Enterprise Group by 2.6% in the 3rd quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 170 shares in the last quarter. Strategic Investment Advisors MI increased its holdings in shares of Public Service Enterprise Group by 1.0% in the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after buying an additional 179 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Public Service Enterprise Group by 4.1% during the 3rd quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 183 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Public Service Enterprise Group by 2.3% during the 4th quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock worth $519,000 after acquiring an additional 187 shares in the last quarter. Finally, Spire Wealth Management raised its position in shares of Public Service Enterprise Group by 3.6% during the fourth quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 189 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PEG. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Evercore ISI lifted their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Scotiabank decreased their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Barclays increased their price target on shares of 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. Finally, BMO Capital Markets decreased their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $68.31.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were 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 in the company, valued at approximately $10,500,172.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now directly owns 150,973 shares in the company, valued at approximately $10,500,172.15. 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 ninety days. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Down 1.1 %

Shares of Public Service Enterprise Group stock opened at $74.33 on Thursday. The stock has a 50 day moving average price of $68.25 and a two-hundred day moving average price of $63.77. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $75.17. The stock has a market capitalization of $37.02 billion, a P/E ratio of 20.59, a PEG ratio of 3.83 and a beta of 0.56.

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

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 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.