Lbp Am Sa Trims Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

LBP AM SA lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 76.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,122 shares of the utilities provider's stock after selling 10,374 shares during the period. LBP AM SA's holdings in Public Service Enterprise Group were worth $257,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $25,000. REAP Financial Group LLC boosted its holdings in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Optiver Holding B.V. bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $50,000. Finally, Nemes Rush Group LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $53,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Trading Up 0.4%

Shares of NYSE:PEG traded up $0.36 during trading on Friday, reaching $82.52. The company's stock had a trading volume of 1,870,718 shares, compared to its average volume of 2,771,431. 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 Incorporated has a 12 month low of $73.72 and a 12 month high of $95.22. The firm's 50 day simple moving average is $80.63 and its two-hundred day simple moving average is $82.17. The stock has a market capitalization of $41.18 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 2.94 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting 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 company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the company posted $1.31 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 68.85%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on PEG shares. Guggenheim dropped their price objective 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. UBS Group raised shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $86.00 to $97.00 in a report on Monday, July 7th. Evercore ISI dropped 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. 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 report on Wednesday, March 19th. 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 for the company in a report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.38.

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.