Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Level Four Advisory Services LLC

Level Four Advisory Services LLC lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,448 shares of the utilities provider’s stock after selling 319 shares during the quarter. Level Four Advisory Services LLC’s holdings in Public Service Enterprise Group were worth $278,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PEG. HighTower Advisors LLC raised its position in Public Service Enterprise Group by 12.1% in the first quarter. HighTower Advisors LLC now owns 306,534 shares of the utilities provider’s stock worth $19,084,000 after acquiring an additional 33,063 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Public Service Enterprise Group by 0.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 592,061 shares of the utilities provider’s stock worth $36,974,000 after purchasing an additional 3,727 shares in the last quarter. MGO One Seven LLC grew its stake in Public Service Enterprise Group by 26.7% during the 1st quarter. MGO One Seven LLC now owns 5,708 shares of the utilities provider’s stock valued at $356,000 after acquiring an additional 1,202 shares in the last quarter. Key Client Fiduciary Advisors LLC grew its stake in Public Service Enterprise Group by 2.5% during the 1st quarter. Key Client Fiduciary Advisors LLC now owns 40,848 shares of the utilities provider’s stock valued at $2,551,000 after acquiring an additional 1,002 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Public Service Enterprise Group by 1.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,790 shares of the utilities provider’s stock valued at $2,485,000 after buying an additional 502 shares in the last quarter. Institutional investors and hedge funds own 72.28% of the company’s stock.

Public Service Enterprise Group Stock Down 0.0 %

Shares of Public Service Enterprise Group stock opened at $61.33 on Tuesday. Public Service Enterprise Group Incorporated has a one year low of $52.51 and a one year high of $66.67. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.67 and a quick ratio of 0.52. The stock’s 50-day moving average is $61.71 and its 200 day moving average is $61.66. The firm has a market cap of $30.61 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 3.26 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $1.95 billion. Public Service Enterprise Group had a return on equity of 12.64% and a net margin of 23.99%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.45 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is currently 41.01%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 8,074 shares of Public Service Enterprise Group stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $64.45, for a total value of $520,369.30. Following the completion of the transaction, the chief executive officer now directly owns 115,306 shares in the company, valued at $7,431,471.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Ralph A. Larossa sold 8,074 shares of Public Service Enterprise Group stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $64.45, for a total transaction of $520,369.30. Following the completion of the sale, the chief executive officer now owns 115,306 shares of the company’s stock, valued at $7,431,471.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 4,168 shares of Public Service Enterprise Group stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $63.01, for a total value of $262,625.68. Following the sale, the chief executive officer now directly owns 122,572 shares of the company’s stock, valued at approximately $7,723,261.72. The disclosure for this sale can be found here. Insiders sold 12,442 shares of company stock valued at $795,147 over the last ninety days. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PEG has been the subject of several research reports. UBS Group cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $66.00 in a research report on Monday, August 14th. Barclays initiated coverage on Public Service Enterprise Group in a report on Wednesday, August 23rd. They set an “overweight” rating and a $64.00 target price on the stock. The Goldman Sachs Group initiated coverage on Public Service Enterprise Group in a report on Wednesday, June 7th. They set a “neutral” rating and a $64.00 target price on the stock. BMO Capital Markets reduced their target price on Public Service Enterprise Group from $66.00 to $64.00 and set a “market perform” rating on the stock in a report on Wednesday, August 2nd. Finally, Mizuho lifted their price objective on Public Service Enterprise Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, August 29th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $65.38.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.