Kayne Anderson Capital Advisors LP Trims Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kayne Anderson Capital Advisors LP lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 42.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,468 shares of the utilities provider's stock after selling 63,463 shares during the period. Kayne Anderson Capital Advisors LP's holdings in Public Service Enterprise Group were worth $7,116,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $25,000. REAP Financial Group LLC increased its holdings in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after buying an additional 162 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $50,000. Finally, Nemes Rush Group LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Up 0.1%

NYSE PEG traded up $0.12 on Monday, hitting $84.43. 2,445,908 shares of the company were exchanged, compared to its average volume of 2,772,819. Public Service Enterprise Group Incorporated has a 12 month low of $73.83 and a 12 month high of $95.22. The company has a market cap of $42.13 billion, a PE ratio of 22.19, a PEG ratio of 3.02 and a beta of 0.48. The stock has a fifty day moving average of $80.98 and a 200-day moving average of $82.05. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the firm earned $1.31 earnings per share. The business's quarterly revenue was up 16.7% compared to the same quarter last year. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.98%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Analyst Ratings Changes

Several research firms have recently commented on PEG. Barclays decreased their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. UBS Group raised shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $86.00 to $97.00 in a research note on Monday, July 7th. Evercore ISI decreased their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note 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 Sunday. Finally, BMO Capital Markets dropped their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of "Hold" and an average target price of $89.86.

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.