Public Service Enterprise Group Incorporated (PEG) Holdings Reduced by Huber Capital Management LLC

Huber Capital Management LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,400 shares of the utilities provider’s stock after selling 4,700 shares during the quarter. Huber Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,591,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PEG. Grove Bank & Trust raised its stake in shares of Public Service Enterprise Group by 209.4% in the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 1,539 shares in the last quarter. Hudock Capital Group LLC raised its stake in shares of Public Service Enterprise Group by 38.8% in the 2nd quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 735 shares in the last quarter. Vantage Investment Advisors LLC raised its stake in shares of Public Service Enterprise Group by 35.3% in the 2nd quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 700 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Public Service Enterprise Group by 6.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 157 shares in the last quarter. Finally, IHT Wealth Management LLC raised its stake in shares of Public Service Enterprise Group by 45.9% in the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 66.77% of the company’s stock.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 33,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $50.12, for a total value of $1,653,960.00. Following the completion of the transaction, the chief operating officer now owns 81,241 shares in the company, valued at approximately $4,071,798.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $52.90, for a total transaction of $1,102,065.70. Following the completion of the transaction, the chairman now owns 687,600 shares of the company’s stock, valued at approximately $36,374,040. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,951 shares of company stock valued at $13,045,041. 0.61% of the stock is owned by insiders.

Public Service Enterprise Group Incorporated (NYSE:PEG) traded down $0.18 on Tuesday, reaching $52.89. 5,119,900 shares of the company traded hands, compared to its average volume of 2,792,756. Public Service Enterprise Group Incorporated has a 52-week low of $40.72 and a 52-week high of $53.28. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $26,680.00, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 6.63 and a beta of 0.41.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the company posted $0.88 EPS. Public Service Enterprise Group’s revenue for the quarter was down 7.6% on a year-over-year basis. equities analysts anticipate that Public Service Enterprise Group Incorporated will post 2.92 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, December 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 168.63%.

PEG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, September 20th. BidaskClub upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.50 to $50.00 in a research note on Friday, August 11th. Argus increased their price objective on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $50.42.

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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.

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

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