Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund 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 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PEG. Operose Advisors LLC increased its position in Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $31,000. Clear Street Markets LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth $31,000. CNB Bank purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $34,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $36,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on PEG shares. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a report on Monday, January 22nd. Barclays raised their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets decreased 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. Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Finally, Evercore ISI lifted their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.58.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,948 shares of company stock valued at $510,300. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG traded up $0.75 during midday trading on Wednesday, hitting $65.03. 2,140,737 shares of the stock traded hands, compared to its average volume of 2,856,657. The firm has a market capitalization of $32.42 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51. The business’s 50 day moving average price is $63.43 and its two-hundred day moving average price is $61.80.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm’s revenue was down 17.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

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.