Symphony Financial Ltd. Co. reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 65.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,621 shares of the utilities provider's stock after selling 10,868 shares during the period. Symphony Financial Ltd. Co.'s holdings in Public Service Enterprise Group were worth $456,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. FORM Wealth Advisors LLC acquired a new position in Public Service Enterprise Group in the 1st quarter worth about $282,000. Asset Management One Co. Ltd. boosted its stake in Public Service Enterprise Group by 10.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 339,197 shares of the utilities provider's stock valued at $27,916,000 after purchasing an additional 32,697 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Public Service Enterprise Group by 18.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 117,272 shares of the utilities provider's stock valued at $9,651,000 after purchasing an additional 18,503 shares during the period. Consolidated Planning Corp boosted its stake in Public Service Enterprise Group by 203.4% during the 1st quarter. Consolidated Planning Corp now owns 16,970 shares of the utilities provider's stock valued at $1,397,000 after purchasing an additional 11,377 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Public Service Enterprise Group by 0.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 67,260 shares of the utilities provider's stock valued at $5,536,000 after purchasing an additional 349 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.
Public Service Enterprise Group Price Performance
Public Service Enterprise Group stock opened at $83.44 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. The company has a market capitalization of $41.64 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.94 and a beta of 0.48. Public Service Enterprise Group Incorporated has a one year low of $72.82 and a one year high of $95.22. The business has a 50 day simple moving average of $80.35 and a 200 day simple moving average of $82.42.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting 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 return on equity of 11.80% and a net margin of 17.01%. Public Service Enterprise Group's revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $1.31 EPS. On average, sell-side analysts forecast 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. Shareholders of record on Monday, June 9th will be given a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.02%. Public Service Enterprise Group's payout ratio is 68.85%.
Insider Buying and Selling at Public Service Enterprise Group
In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction 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 completion of the transaction, the chief executive officer now owns 221,093 shares in the company, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.
Analyst Ratings Changes
A number of analysts have commented on PEG shares. Barclays reduced their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Evercore ISI reduced their price objective 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. LADENBURG THALM/SH SH downgraded 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. Guggenheim reduced their price objective 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. Finally, Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $89.54.
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About Public Service Enterprise Group
(
Free Report)
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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