Shufro Rose & Co. LLC cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,166 shares of the utilities provider’s stock after selling 200 shares during the period. Shufro Rose & Co. LLC’s holdings in Public Service Enterprise Group were worth $738,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in PEG. FMR LLC raised its stake in Public Service Enterprise Group by 1.9% in the first quarter. FMR LLC now owns 2,166,576 shares of the utilities provider’s stock worth $96,088,000 after buying an additional 40,125 shares during the period. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock worth $1,554,116,000 after buying an additional 1,144,077 shares during the period. DT Investment Partners LLC raised its stake in Public Service Enterprise Group by 15.9% in the first quarter. DT Investment Partners LLC now owns 22,646 shares of the utilities provider’s stock worth $1,004,000 after buying an additional 3,115 shares during the period. Peapack Gladstone Financial Corp raised its stake in Public Service Enterprise Group by 6.6% in the first quarter. Peapack Gladstone Financial Corp now owns 151,656 shares of the utilities provider’s stock worth $6,726,000 after buying an additional 9,338 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Public Service Enterprise Group by 6.0% in the first quarter. Envestnet Asset Management Inc. now owns 65,400 shares of the utilities provider’s stock worth $2,900,000 after buying an additional 3,677 shares during the period. 66.32% of the stock is owned by institutional investors.

Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 46.29 on Wednesday. The company has a market cap of $23.42 billion, a price-to-earnings ratio of 52.01 and a beta of 0.38. The firm’s 50-day moving average price is $44.04 and its 200-day moving average price is $44.23. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $46.35.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The business 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 quarter last year, the firm earned $0.57 earnings per share. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is currently 193.26%.

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A number of equities research analysts have recently weighed in on PEG shares. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, August 1st. Royal Bank Of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. BidaskClub raised Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Finally, Morgan Stanley upped their price target on Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.21.

In other news, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $43.55, for a total transaction of $1,046,114.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the sale, the chairman now directly owns 748,474 shares of the company’s stock, valued at approximately $33,853,479.02. The disclosure for this sale can be found here. In the last three months, insiders sold 77,421 shares of company stock valued at $3,389,397. 0.61% of the stock is owned by insiders.

Public Service Enterprise Group Company Profile

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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