Patton Albertson Miller Group LLC Sells 20,426 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Patton Albertson Miller Group LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 24.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,118 shares of the utilities provider's stock after selling 20,426 shares during the quarter. Patton Albertson Miller Group LLC's holdings in Public Service Enterprise Group were worth $5,195,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $25,000. REAP Financial Group LLC lifted its position in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after acquiring an additional 162 shares during the period. Optiver Holding B.V. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $50,000. Finally, Nemes Rush Group LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $53,000. Institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on PEG shares. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Barclays cut their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Evercore ISI cut their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. UBS Group upgraded Public Service Enterprise Group from a "neutral" rating to a "buy" rating and raised their target price for the stock from $86.00 to $97.00 in a research report on Monday, July 7th. Finally, Guggenheim cut their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and a consensus target price of $89.86.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.8%

PEG stock opened at $82.83 on Friday. The business has a fifty day moving average price of $80.88 and a 200 day moving average price of $82.09. Public Service Enterprise Group Incorporated has a fifty-two week low of $73.72 and a fifty-two week high of $95.22. The stock has a market capitalization of $41.33 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 2.94 and a beta of 0.48. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65.

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 analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the firm posted $1.31 EPS. The business's revenue was up 16.7% on a year-over-year basis. Analysts expect 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 declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a dividend of $0.63 per share. The ex-dividend date was Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. Public Service Enterprise Group's dividend payout ratio is 68.85%.

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.

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