Court Place Advisors LLC Trims Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Court Place Advisors LLC lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,878 shares of the utilities provider’s stock after selling 793 shares during the quarter. Court Place Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,766,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Modera Wealth Management LLC boosted its position in 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. IFP Advisors Inc raised its position in shares of Public Service Enterprise Group by 14.2% in the second quarter. IFP Advisors Inc now owns 1,418 shares of the utilities provider’s stock worth $89,000 after acquiring an additional 176 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Public Service Enterprise Group by 0.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock worth $3,567,000 after acquiring an additional 177 shares in the last quarter. Strategic Investment Advisors MI grew its position in shares of Public Service Enterprise Group by 1.0% during the 4th quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after acquiring an additional 179 shares during the period. Finally, Lido Advisors LLC grew 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 period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.2 %

Shares of NYSE PEG traded up $0.75 during trading on Wednesday, hitting $65.03. 2,140,737 shares of the company were exchanged, compared to its average volume of 2,856,657. The company has a fifty day moving average price of $63.43 and a 200-day moving average price of $61.80. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The firm has a market capitalization of $32.42 billion, a PE ratio of 12.69, a P/E/G ratio of 2.85 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last issued its 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 net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 17.0% compared to the same quarter last year. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.69%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, 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 available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock worth $510,300 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PEG shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Evercore ISI increased their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Barclays boosted their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $67.58.

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.