Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Position Decreased by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in Public Service Enterprise Group (PEG) by 15.5%, holding 39,893 shares valued at approximately $3.28 million after selling 7,327 shares.
• The company reported a quarterly earnings per share of $0.77, exceeding analyst expectations, with a **revenue** of **$2.81 billion**, representing a **15.8% year-over-year increase**.
• PEG has announced a quarterly dividend of $0.63 per share, set to be paid on September 30th, resulting in an annualized dividend yield of 2.9%.

Mizuho Securities USA LLC cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 15.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,893 shares of the utilities provider's stock after selling 7,327 shares during the period. Mizuho Securities USA LLC's holdings in Public Service Enterprise Group were worth $3,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its stake in shares of Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after purchasing an additional 2,803 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth about $298,000. Exchange Traded Concepts LLC raised its stake in shares of Public Service Enterprise Group by 12.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after purchasing an additional 447 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Public Service Enterprise Group by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after purchasing an additional 3,601 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth about $329,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $87.70 on Monday. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The firm has a market capitalization of $43.77 billion, a PE ratio of 22.15, a PEG ratio of 3.05 and a beta of 0.45. The business's 50 day moving average is $83.63 and its 200-day moving average is $82.16. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%. Public Service Enterprise Group's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 63.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PEG. Guggenheim lowered their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. UBS Group raised their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Morgan Stanley lowered their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Finally, BMO Capital Markets raised their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $90.95.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares in the company, valued at $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 available through the SEC website. 0.19% of the stock is owned by company insiders.

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.

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