Mcrae Capital Management Inc. Has $311,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mcrae Capital Management Inc. lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 93.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,081 shares of the utilities provider's stock after selling 72,154 shares during the quarter. Mcrae Capital Management Inc.'s holdings in Public Service Enterprise Group were worth $311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. D.A. Davidson & CO. increased its position in shares of Public Service Enterprise Group by 7.5% during the first quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider's stock worth $256,000 after acquiring an additional 256 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Public Service Enterprise Group by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider's stock worth $92,310,000 after acquiring an additional 83,174 shares during the last quarter. Prudential PLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $798,000. Cetera Investment Advisers increased its position in shares of Public Service Enterprise Group by 1.3% during the first quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider's stock worth $1,793,000 after acquiring an additional 332 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Public Service Enterprise Group in the first quarter valued at about $214,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG traded down $0.13 during midday trading on Monday, hitting $66.65. 2,972,700 shares of the stock traded hands, compared to its average volume of 2,925,992. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.02. The firm has a market capitalization of $33.23 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 2.92 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The business's 50 day moving average price is $61.48 and its two-hundred day moving average price is $61.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company's revenue for the quarter was down 17.0% compared to the same quarter last year. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $0.60 per share. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Thursday, March 7th. Public Service Enterprise Group's payout ratio is currently 46.78%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Insiders have sold a total of 6,574 shares of company stock worth $419,108 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PEG has been the subject of several research analyst reports. Guggenheim lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $61.00 price objective for the company. in a report on Monday, January 22nd. Royal Bank of Canada boosted their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, March 7th. TheStreet raised Public Service Enterprise Group from a "c+" rating to a "b-" rating in a report on Wednesday, March 6th. Barclays boosted their price objective on Public Service Enterprise Group from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Thursday, March 14th. Finally, BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a "market perform" rating for the company in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Hold" and a consensus target price of $66.38.

Public Service Enterprise Group 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.