Yousif Capital Management LLC Sells 12,781 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Yousif Capital Management LLC decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 15.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,748 shares of the utilities provider's stock after selling 12,781 shares during the quarter. Yousif Capital Management LLC's holdings in Public Service Enterprise Group were worth $5,658,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Transce3nd LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at $25,000. REAP Financial Group LLC raised its stake in Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $35,000. Finally, OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This represents a 0.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. BMO Capital Markets dropped their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a report on Thursday, April 10th. Barclays dropped their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a report on Wednesday, March 19th. Finally, Bank of America dropped their target price on 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $89.63.

Public Service Enterprise Group Trading Down 0.8%

PEG traded down $0.67 during trading hours on Friday, reaching $80.89. 2,446,620 shares of the company's stock traded hands, compared to its average volume of 2,802,753. The firm has a 50-day moving average price of $80.29 and a 200 day moving average price of $82.92. Public Service Enterprise Group Incorporated has a 52-week low of $72.25 and a 52-week 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 $40.36 billion, a PE ratio of 19.87, a PEG ratio of 2.78 and a beta of 0.48.

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

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is 68.85%.

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.