First National Bank of Mount Dora Trust Investment Services reduced its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,678 shares of the utilities provider’s stock after selling 2,384 shares during the quarter. Public Service Enterprise Group accounts for 1.9% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 20th largest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Public Service Enterprise Group were worth $4,258,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Rockland Trust Co. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $31,000. Athena Capital Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $33,000. Csenge Advisory Group acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $44,000. JNBA Financial Advisors acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $45,000. Finally, Wealthcare Advisory Partners LLC lifted its stake in shares of Public Service Enterprise Group by 76.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 890 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 385 shares during the last quarter. Institutional investors own 69.22% of the company’s stock.
In other news, VP Stuart J. Black sold 6,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.07, for a total value of $354,420.00. Following the transaction, the vice president now owns 24,981 shares in the company, valued at approximately $1,475,627.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ralph A. Larossa sold 1,650 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $58.51, for a total value of $96,541.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,405 shares of company stock worth $10,271,259. Company insiders own 0.51% of the company’s stock.
NYSE PEG traded up $0.58 during trading hours on Wednesday, hitting $58.70. 1,847,747 shares of the company were exchanged, compared to its average volume of 3,173,448. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.71 and a quick ratio of 0.53. Public Service Enterprise Group Inc. has a 52-week low of $49.22 and a 52-week high of $60.36. The company has a market cap of $29.73 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 2.89 and a beta of 0.41.
Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.01. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 14.83%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the business earned $0.57 EPS. Equities research analysts anticipate that Public Service Enterprise Group Inc. will post 3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.47 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. Public Service Enterprise Group’s payout ratio is currently 60.26%.
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About Public Service Enterprise Group
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 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 to customers.
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