Patton Fund Management Inc. Lowers Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Patton Fund Management Inc. trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 23.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 41,359 shares of the utilities provider's stock after selling 12,405 shares during the period. Patton Fund Management Inc.'s holdings in Public Service Enterprise Group were worth $3,404,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $25,000. REAP Financial Group LLC raised its position in 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 worth $27,000 after purchasing an additional 162 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $39,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $50,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. Bank of America lowered their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Evercore ISI decreased 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 research report on Thursday, May 1st. Finally, BMO Capital Markets dropped their target price 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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $89.54.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Up 1.2%

Shares of NYSE PEG traded up $0.95 during trading on Thursday, hitting $81.99. 3,579,734 shares of the company traded hands, compared to its average volume of 2,804,685. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The business's fifty day moving average is $80.34 and its 200 day moving average is $82.73. The firm has a market capitalization of $40.92 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 2.90 and a beta of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.82 and a fifty-two week high of $95.22.

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

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 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.