Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,482 shares of the utilities provider’s stock after selling 149 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Public Service Enterprise Group were worth $533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $445,005,000. Raymond James Financial Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $376,209,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Public Service Enterprise Group by 604.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after buying an additional 1,719,614 shares during the period. Schroder Investment Management Group increased its position in shares of Public Service Enterprise Group by 234.1% in the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock valued at $178,900,000 after purchasing an additional 1,483,662 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Public Service Enterprise Group by 151.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,064,829 shares of the utilities provider’s stock valued at $89,967,000 after purchasing an additional 640,949 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 0.8%

Shares of NYSE:PEG opened at $80.89 on Friday. The stock has a market cap of $40.36 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.78 and a beta of 0.48. The firm has a fifty day moving average price of $80.29 and a 200 day moving average price of $82.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $71.89 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts’ consensus estimates of $1.43. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 EPS. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.12%. Public Service Enterprise Group’s payout ratio is currently 68.85%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Guggenheim lowered their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $89.63.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares in the company, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

About Public Service Enterprise Group

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.