Janney Montgomery Scott LLC Trims Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Janney Montgomery Scott LLC trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,923 shares of the utilities provider’s stock after selling 10,608 shares during the period. Janney Montgomery Scott LLC’s holdings in Public Service Enterprise Group were worth $7,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bromfield Sneider Wealth Advisors purchased a new position in Public Service Enterprise Group in the 1st quarter valued at approximately $27,000. TAP Consulting LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $28,000. Covestor Ltd purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $32,000. Elmwood Wealth Management Inc. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $33,000. Finally, Cassady Schiller Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $42,000. 70.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEG has been the subject of a number of recent analyst reports. TheStreet lowered shares of Public Service Enterprise Group from a “b” rating to a “c” rating in a research report on Monday, June 13th. Credit Suisse Group began coverage on shares of Public Service Enterprise Group in a research report on Monday, April 25th. They set a “neutral” rating and a $76.00 price target for the company. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Monday, May 9th. Mizuho cut their target price on shares of Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Finally, Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $72.45.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $61.90 on Thursday. The company has a market cap of $30.90 billion, a price-to-earnings ratio of -24.09, a price-to-earnings-growth ratio of 4.94 and a beta of 0.56. The company has a 50-day moving average price of $63.62 and a 200-day moving average price of $66.36. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a 12 month low of $58.19 and a 12 month high of $75.61.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.11 by $0.22. Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was down 19.9% compared to the same quarter last year. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.47 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, September 8th. Public Service Enterprise Group’s dividend payout ratio is currently -84.05%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $68.95, for a total value of $681,432.85. Following the sale, the chief executive officer now owns 464,270 shares in the company, valued at $32,011,416.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 30,249 shares of company stock worth $2,028,900 over the last 90 days. 0.55% of the stock is owned by company insiders.

Public Service Enterprise Group Company Profile

(Get Rating)

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 PSEG 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.

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

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