Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,060 shares of the utilities provider’s stock after selling 463 shares during the quarter. Parallel Advisors LLC’s holdings in Public Service Enterprise Group were worth $187,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PEG. Addison Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $31,000. Operose Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $36,000. Anchor Investment Management LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $37,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $42,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PEG shares. Mizuho raised their price objective on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Barclays increased their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $68.92.

Get Our Latest Stock Analysis on Public Service Enterprise Group

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value 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 $10,500,172.15. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock worth $520,814 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Down 1.6 %

NYSE:PEG opened at $74.55 on Tuesday. The business’s 50-day moving average is $69.88 and its two-hundred day moving average is $64.47. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $75.82. The firm has a market capitalization of $37.13 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 3.85 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $1.39 earnings per share. Research analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

About Public Service Enterprise Group

(Free Report)

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.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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