Conning Inc. lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 12,581 shares of the utilities provider’s stock after selling 70 shares during the period. Conning Inc.’s holdings in Public Service Enterprise Group were worth $541,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PEG. Welch & Forbes LLC boosted its stake in Public Service Enterprise Group by 0.3% in the first quarter. Welch & Forbes LLC now owns 5,451 shares of the utilities provider’s stock worth $242,000 after buying an additional 15 shares in the last quarter. Parallel Advisors LLC boosted its stake in Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after buying an additional 20 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its stake in Public Service Enterprise Group by 0.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock worth $368,000 after buying an additional 38 shares in the last quarter. Advisor Partners LLC boosted its stake in Public Service Enterprise Group by 0.5% in the second quarter. Advisor Partners LLC now owns 10,106 shares of the utilities provider’s stock worth $435,000 after buying an additional 48 shares in the last quarter. Finally, Trustmark National Bank Trust Department boosted its stake in Public Service Enterprise Group by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,176 shares of the utilities provider’s stock worth $274,000 after buying an additional 57 shares in the last quarter. 66.32% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 46.30 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $46.74. The stock has a 50 day moving average price of $44.22 and a 200 day moving average price of $44.26. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of 52.02 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same period in the prior year, the business earned $0.57 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.71%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 193.26%.

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A number of research firms recently weighed in on PEG. Barclays PLC raised their price target on Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, April 25th. BidaskClub lowered Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, July 4th. Wolfe Research upgraded Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research report on Monday, July 17th. Finally, Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.50 to $50.00 in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $48.21.

In other news, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the transaction, the chairman now directly owns 748,121 shares in the company, valued at $32,042,022.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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