Tidal Investments LLC Sells 7,380 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Tidal Investments LLC lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 45.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,926 shares of the utilities provider's stock after selling 7,380 shares during the period. Tidal Investments LLC's holdings in Public Service Enterprise Group were worth $754,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock valued at $7,403,000 after purchasing an additional 18,627 shares during the last quarter. Parsons Capital Management Inc. RI bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $2,565,000. abrdn plc grew its holdings in shares of Public Service Enterprise Group by 0.6% during the 4th quarter. abrdn plc now owns 1,803,046 shares of the utilities provider's stock valued at $151,546,000 after purchasing an additional 10,860 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $375,000. Finally, Ibex Wealth Advisors purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $885,000. Institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PEG. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of 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. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a research report on Wednesday, March 19th. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. Finally, Evercore ISI dropped their price target 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $89.63.

Public Service Enterprise Group Trading Up 1.8%

Shares of NYSE:PEG traded up $1.43 on Friday, hitting $80.98. The company had a trading volume of 12,247,488 shares, compared to its average volume of 2,776,646. The firm's 50-day simple moving average is $80.29 and its two-hundred day simple moving average is $83.65. Public Service Enterprise Group Incorporated has a 1 year low of $71.89 and a 1 year high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business earned $1.31 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed 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 is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.11%. Public Service Enterprise Group's dividend payout ratio is currently 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 the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now directly owns 221,093 shares in the company, valued at approximately $17,523,831.18. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.