Public Service Enterprise Group Incorporated (NYSE:PEG) Position Trimmed by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 42.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,453 shares of the utilities provider's stock after selling 13,464 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Public Service Enterprise Group were worth $1,559,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $35,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth $39,000. Nemes Rush Group LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $53,000. Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $54,000. Finally, Financial Life Planners acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $56,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, Barclays cut their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.35.

Public Service Enterprise Group Stock Performance

PEG traded down $0.20 on Monday, hitting $80.84. 476,434 shares of the company's stock were exchanged, compared to its average volume of 2,708,930. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a fifty day moving average of $81.62 and a two-hundred day moving average of $85.15. Public Service Enterprise Group Incorporated has a twelve month low of $66.57 and a twelve month high of $95.22. The firm has a market cap of $40.30 billion, a PE ratio of 19.86, a P/E/G ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. The business's quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 3.12%. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares in the company, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company's stock.

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.