Pensionfund Sabic Reduces Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Pensionfund Sabic trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 24.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,200 shares of the utilities provider’s stock after selling 4,800 shares during the period. Pensionfund Sabic’s holdings in Public Service Enterprise Group were worth $1,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth $36,000. Salomon & Ludwin LLC raised its stake 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 acquiring an additional 560 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.0 %

Shares of Public Service Enterprise Group stock opened at $90.04 on Thursday. The firm has a market cap of $44.85 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.32 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The company’s 50-day simple moving average is $83.30 and its 200-day simple moving average is $75.91. 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 (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. 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 lifted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Finally, Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $84.62.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,446 shares of company stock valued at $2,531,260. Corporate insiders own 0.57% of the company’s stock.

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.