Focus Partners Advisor Solutions LLC Sells 8,029 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Focus Partners Advisor Solutions LLC cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 53.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,984 shares of the utilities provider's stock after selling 8,029 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Public Service Enterprise Group were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Transce3nd LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $35,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $39,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $50,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded up $0.64 during midday trading on Tuesday, reaching $79.60. 2,953,104 shares of the company were exchanged, compared to its average volume of 2,750,584. 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 business's fifty day moving average is $80.55 and its two-hundred day moving average is $83.84. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22. The stock has a market cap of $39.72 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. The business had revenue of $3.22 billion for 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%. The business's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 earnings per share. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced 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. This represents a $2.52 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEG. Guggenheim lowered their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays reduced their target price 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. Evercore ISI reduced their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Finally, Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $89.63.

Insider Buying and Selling at Public Service Enterprise Group

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

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.