Gateway Investment Advisers LLC lessened its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 2.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 490,817 shares of the utilities provider’s stock after selling 10,153 shares during the quarter. Gateway Investment Advisers LLC owned about 0.10% of Public Service Enterprise Group worth $29,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue grew its holdings in Public Service Enterprise Group by 51.1% during the 1st quarter. State of Alaska Department of Revenue now owns 143,914 shares of the utilities provider’s stock worth $8,548,000 after acquiring an additional 48,665 shares during the last quarter. UNIVEST FINANCIAL Corp acquired a new position in shares of Public Service Enterprise Group during the 1st quarter valued at $209,000. Hennessy Advisors Inc. lifted its position in shares of Public Service Enterprise Group by 3.2% during the 1st quarter. Hennessy Advisors Inc. now owns 423,490 shares of the utilities provider’s stock valued at $25,160,000 after acquiring an additional 13,000 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its position in shares of Public Service Enterprise Group by 226.8% during the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 175,364 shares of the utilities provider’s stock valued at $10,418,000 after acquiring an additional 121,702 shares during the period. Finally, CenturyLink Investment Management Co acquired a new position in shares of Public Service Enterprise Group during the 1st quarter valued at $686,000. Institutional investors own 69.20% of the company’s stock.

In other news, VP Stuart J. Black sold 6,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.07, for a total value of $354,420.00. Following the completion of the sale, the vice president now owns 24,981 shares in the company, valued at approximately $1,475,627.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ralph Izzo sold 52,406 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $59.08, for a total transaction of $3,096,146.48. Following the completion of the sale, the chief executive officer now owns 487,843 shares of the company’s stock, valued at approximately $28,821,764.44. The disclosure for this sale can be found here. Insiders have sold a total of 163,220 shares of company stock valued at $9,362,076 in the last 90 days. 0.51% of the stock is currently owned by company insiders.

PEG stock traded down $0.19 during midday trading on Wednesday, reaching $59.41. 142,194 shares of the company’s stock traded hands, compared to its average volume of 3,206,584. The firm has a market capitalization of $30.15 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 2.93 and a beta of 0.41. The company has a current ratio of 0.71, a quick ratio of 0.53 and a debt-to-equity ratio of 0.92. Public Service Enterprise Group Inc. has a 52 week low of $49.02 and a 52 week high of $60.08.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.40 billion. Public Service Enterprise Group had a net margin of 14.83% and a return on equity of 11.10%. During the same quarter in the previous year, the business posted $0.57 EPS. On average, equities analysts predict that Public Service Enterprise Group Inc. will post 3.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Thursday, March 7th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.45. Public Service Enterprise Group’s payout ratio is 60.26%.

A number of research analysts recently issued reports on PEG shares. Mizuho boosted their target price on shares of Public Service Enterprise Group from $54.00 to $61.50 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, January 15th. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Deutsche Bank downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 target price on the stock. in a research report on Thursday, February 28th. Finally, Wells Fargo & Co boosted their target price on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, February 28th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Public Service Enterprise Group currently has a consensus rating of “Buy” and a consensus target price of $59.10.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Further Reading: Diversification

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

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