Integrated Advisors Network LLC Sells 5,257 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Integrated Advisors Network LLC lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 67.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,533 shares of the utilities provider’s stock after selling 5,257 shares during the period. Integrated Advisors Network LLC’s holdings in Public Service Enterprise Group were worth $208,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Transce3nd LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $25,000. REAP Financial Group LLC raised its holdings in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after buying an additional 162 shares during the last quarter. OFI Invest Asset Management bought a new position in Public Service Enterprise Group in the 4th quarter worth $39,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $50,000. 73.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. This represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. Guggenheim lowered their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Bank of America cut their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $89.63.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $80.89 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a one year low of $72.25 and a one year high of $95.22. The stock’s 50 day moving average price is $80.29 and its 200 day moving average price is $82.84. The firm has a market capitalization of $40.36 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s payout ratio is currently 68.85%.

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.