Capital Market Strategies LLC Has $303,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Capital Market Strategies LLC reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.9% during the 3rd quarter, Holdings Channel reports. The fund owned 3,393 shares of the utilities provider’s stock after selling 250 shares during the quarter. Capital Market Strategies LLC’s holdings in Public Service Enterprise Group were worth $303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $33,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth $36,000. Salomon & Ludwin LLC lifted its holdings in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after buying an additional 560 shares in the last quarter. Finally, PFS Partners LLC lifted its holdings in Public Service Enterprise Group by 90.9% during the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock worth $42,000 after buying an additional 300 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on PEG. Barclays upped their price objective on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Monday, June 17th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Bank of America upped their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.46.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,446 shares of company stock worth $2,531,260. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $91.60 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 12-month low of $54.80 and a 12-month high of $92.20. The firm has a fifty day moving average of $82.26 and a 200-day moving average of $75.09. The firm has a market capitalization of $45.63 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.22 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.62%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

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.