MCF Advisors LLC cut its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 12.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,515 shares of the utilities provider’s stock after selling 212 shares during the quarter. MCF Advisors LLC’s holdings in Public Service Enterprise Group were worth $90,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Public Service Enterprise Group by 7.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,550 shares of the utilities provider’s stock worth $1,756,000 after purchasing an additional 1,976 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Public Service Enterprise Group during the 1st quarter worth $223,000. New York State Teachers Retirement System boosted its position in Public Service Enterprise Group by 3.8% during the 1st quarter. New York State Teachers Retirement System now owns 729,496 shares of the utilities provider’s stock worth $43,339,000 after purchasing an additional 26,600 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in Public Service Enterprise Group by 146.9% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 82,982 shares of the utilities provider’s stock worth $4,929,000 after purchasing an additional 49,369 shares during the period. Finally, Alethea Capital Management LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter worth $2,217,000. 68.69% of the stock is owned by institutional investors.

A number of analysts recently weighed in on PEG shares. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 price target for the company in a research report on Thursday, January 17th. ValuEngine cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Wolfe Research raised shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 22nd. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Finally, Deutsche Bank lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective on the stock. in a report on Thursday, February 28th. Four investment analysts have rated the stock with a hold rating and ten have given 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 $59.73.

PEG stock traded up $0.79 during trading on Thursday, reaching $60.15. The stock had a trading volume of 22,580 shares, compared to its average volume of 2,997,178. Public Service Enterprise Group Inc. has a 1-year low of $49.22 and a 1-year high of $60.36. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.52. The firm has a market capitalization of $30.31 billion, a P/E ratio of 19.29, a P/E/G ratio of 3.04 and a beta of 0.40.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.78 billion. Public Service Enterprise Group had a net margin of 16.03% and a return on equity of 11.35%. During the same quarter in the previous year, the business posted $0.97 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Inc. will post 3.27 EPS for the current year.

The business 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 $0.47 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.13%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.26%.

In other news, EVP Tamara Louise Linde sold 13,535 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $60.04, for a total value of $812,641.40. Following the sale, the executive vice president now owns 49,909 shares in the company, valued at approximately $2,996,536.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ralph Izzo sold 52,406 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 in the company, valued at approximately $28,821,764.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,054 shares of company stock worth $10,620,958. Company insiders own 0.51% of the company’s stock.

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Public Service Enterprise Group 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.

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

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