Mercer Global Advisors Inc. ADV Sells 56,735 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Mercer Global Advisors Inc. ADV decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,401 shares of the utilities provider's stock after selling 56,735 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Public Service Enterprise Group were worth $5,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $39,000. Optiver Holding B.V. bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $50,000. Finally, Nemes Rush Group LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth $53,000. Institutional investors own 73.34% of the company's stock.

Insider Activity

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 value of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares of the company's stock, valued at $17,523,831.18. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

NYSE:PEG traded down $0.56 during trading hours on Friday, reaching $78.92. The stock had a trading volume of 1,793,046 shares, compared to its average volume of 2,712,986. The stock has a market capitalization of $39.38 billion, a PE ratio of 19.39, a PEG ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 52 week low of $71.89 and a 52 week high of $95.22. The company has a 50 day moving average price of $80.97 and a two-hundred day moving average price of $84.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results 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 net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Public Service Enterprise Group's revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's payout ratio is 68.85%.

Analysts Set New Price Targets

PEG has been the topic of several analyst reports. Morgan Stanley lifted their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research report on Thursday, April 10th. Barclays decreased their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. StockNews.com cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Finally, LADENBURG THALM/SH SH downgraded shares of 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Hold" and an average price target of $88.81.

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.