Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380,742 shares of the utilities provider’s stock after selling 525 shares during the period. First Horizon Advisors Inc.’s holdings in Public Service Enterprise Group were worth $23,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PEG. Addison Advisors LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $31,000. Operose Advisors LLC raised its position in shares of 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 period. Bruce G. Allen Investments LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at $36,000. CNB Bank acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $34,000. Finally, Anchor Investment Management LLC purchased a new position in Public Service Enterprise Group in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on PEG shares. Scotiabank reduced their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Morgan Stanley restated an “overweight” rating and issued a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Finally, Barclays upped their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Public Service Enterprise Group Stock Down 0.0 %

Shares of PEG traded down $0.02 during mid-day trading on Thursday, hitting $69.79. 1,214,056 shares of the company’s stock were exchanged, compared to its average volume of 2,872,086. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $70.46. The firm has a fifty day moving average of $65.17 and a two-hundred day moving average of $62.48. The stock has a market cap of $34.80 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 3.02 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.19% and a net margin of 17.65%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company earned $1.39 earnings per share. The company’s quarterly revenue was down 26.5% compared to the same quarter last year. On average, 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 business also recently announced 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 is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.44%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the 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 in the company, valued at approximately $1,997,409.96. The sale was disclosed in a filing with the SEC, which is available 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, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock valued at $511,814 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group 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.