GTS Securities LLC Decreases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

GTS Securities LLC lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 62.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,129 shares of the utilities provider's stock after selling 8,473 shares during the period. GTS Securities LLC's holdings in Public Service Enterprise Group were worth $433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $25,000. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $39,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $50,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Trading Up 1.8%

NYSE:PEG traded up $1.43 during trading hours on Friday, hitting $80.98. The company had a trading volume of 12,247,488 shares, compared to its average volume of 2,790,131. The stock has a 50-day moving average price of $80.31 and a 200 day moving average price of $83.71. Public Service Enterprise Group Incorporated has a 52 week low of $71.89 and a 52 week high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market capitalization of $40.41 billion, a PE ratio of 19.90, 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 released its quarterly 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 company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm's revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 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 Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.11%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's payout ratio is currently 68.85%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PEG. LADENBURG THALM/SH SH downgraded shares of 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 report on Wednesday, March 19th. Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Evercore ISI cut their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Finally, Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $89.63.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently 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.