Shufro Rose & Co. LLC Sells 600 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Shufro Rose & Co. LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,134 shares of the utilities provider’s stock after selling 600 shares during the period. Shufro Rose & Co. LLC’s holdings in Public Service Enterprise Group were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Modera Wealth Management LLC raised its position in shares of Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock valued at $378,000 after buying an additional 170 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Public Service Enterprise Group by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock worth $3,567,000 after purchasing an additional 177 shares during the last quarter. Strategic Investment Advisors MI increased its position in 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 worth $1,071,000 after purchasing an additional 179 shares during the last quarter. Lido Advisors LLC increased its position in Public Service Enterprise Group by 4.1% in the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 183 shares during the last quarter. Finally, Signaturefd LLC increased its position in Public Service Enterprise Group by 2.3% in the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock worth $519,000 after purchasing an additional 187 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Wells Fargo & Company boosted their price target 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. BMO Capital Markets dropped their price objective 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. Finally, Barclays lifted their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Trading Down 0.4 %

Shares of PEG traded down $0.27 during trading hours on Friday, reaching $67.82. 2,973,057 shares of the company traded hands, compared to its average volume of 2,445,853. The firm has a market cap of $33.81 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 2.97 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 $68.39. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The stock’s fifty day moving average price is $64.64 and its 200 day moving average price is $62.31.

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

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.54%. Public Service Enterprise Group’s payout ratio is currently 46.78%.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now directly 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 is accessible through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now directly 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 is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock worth $511,814 over the last three months. 0.57% of the stock is owned by corporate insiders.

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.