Public Service Enterprise Group Inc. (PEG) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 18.8% during the first quarter, HoldingsChannel reports. The firm owned 63,211 shares of the utilities provider’s stock after selling 14,651 shares during the quarter. Shell Asset Management Co.’s holdings in Public Service Enterprise Group were worth $3,755,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Athena Capital Advisors LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $33,000. Truvestments Capital LLC bought a new position in shares of Public Service Enterprise Group in the 1st quarter valued at $49,000. JNBA Financial Advisors bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $45,000. 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 acquiring an additional 385 shares during the last quarter. Finally, Essex Savings Bank bought a new position in Public Service Enterprise Group during the 4th quarter worth $49,000. 67.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Public Service Enterprise Group stock opened at $61.16 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.52. Public Service Enterprise Group Inc. has a 1-year low of $49.22 and a 1-year high of $61.39. The stock has a market cap of $30.91 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 3.08 and a beta of 0.40.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.08. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business posted $0.97 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group Inc. will post 3.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.47 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.07%. Public Service Enterprise Group’s payout ratio is currently 60.26%.

Several brokerages recently issued reports on PEG. JPMorgan Chase & Co. lowered Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $64.00 to $62.00 in a research report on Tuesday, April 23rd. Mizuho raised their target price on Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Wells Fargo & Co raised their target price on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. They noted that the move was a valuation call. Deutsche Bank lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 target price for the company. in a research report on Thursday, February 28th. Finally, ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.73.

In other Public Service Enterprise Group news, CFO Daniel J. Cregg sold 625 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $59.25, for a total transaction of $37,031.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the vice president now owns 24,981 shares of the company’s stock, valued at $1,475,627.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,679 shares of company stock valued at $10,657,989. Company insiders own 0.51% of the company’s stock.

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Public Service Enterprise Group Profile

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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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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