Apella Capital LLC Sells 1,016 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Apella Capital LLC reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,388 shares of the utilities provider’s stock after selling 1,016 shares during the quarter. Apella Capital LLC’s holdings in Public Service Enterprise Group were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Modera Wealth Management LLC grew its position in Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after buying an additional 170 shares in the last quarter. Strategic Investment Advisors MI grew its position in Public Service Enterprise Group by 1.0% during the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock worth $1,071,000 after buying an additional 179 shares in the last quarter. Lido Advisors LLC grew its position in Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock worth $263,000 after buying an additional 183 shares in the last quarter. Signaturefd LLC grew its position in Public Service Enterprise Group by 2.3% during the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock worth $519,000 after buying an additional 187 shares in the last quarter. Finally, Spire Wealth Management grew its position in Public Service Enterprise Group by 3.6% during the fourth quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock worth $321,000 after buying an additional 189 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,948 shares of company stock valued at $199,910 in the last 90 days. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Down 0.8 %

NYSE PEG opened at $73.01 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $75.82. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $71.83 and a 200-day moving average of $65.39. The firm has a market cap of $36.36 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 66.48%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank of Canada boosted their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Monday, June 17th. Barclays upped their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

About Public Service Enterprise Group

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.