Regentatlantic Capital LLC Sells 243 Shares of Public Service Enterprise Group Inc. (NYSE:PEG)

Regentatlantic Capital LLC cut its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 0.5% in the second quarter, HoldingsChannel.com reports. The fund owned 44,120 shares of the utilities provider’s stock after selling 243 shares during the period. Regentatlantic Capital LLC’s holdings in Public Service Enterprise Group were worth $2,595,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. O Shares Investment Advisers LLC increased its stake in shares of Public Service Enterprise Group by 1.6% in the 1st quarter. O Shares Investment Advisers LLC now owns 22,430 shares of the utilities provider’s stock valued at $1,333,000 after acquiring an additional 352 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Public Service Enterprise Group by 226.8% in 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 last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Public Service Enterprise Group by 12.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,737,128 shares of the utilities provider’s stock valued at $103,202,000 after acquiring an additional 197,098 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Public Service Enterprise Group by 0.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 124,710 shares of the utilities provider’s stock valued at $7,409,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Clark Capital Management Group Inc. increased its stake in shares of Public Service Enterprise Group by 3.9% in the 1st quarter. Clark Capital Management Group Inc. now owns 11,234 shares of the utilities provider’s stock valued at $667,000 after acquiring an additional 424 shares during the last quarter. 68.76% of the stock is owned by institutional investors.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $57.18, for a total transaction of $2,996,632.26. Following the completion of the transaction, the chairman now owns 373,588 shares of the company’s stock, valued at approximately $21,361,761.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Ralph A. Larossa sold 1,650 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $57.15, for a total value of $94,297.50. Following the transaction, the chief operating officer now directly owns 81,768 shares of the company’s stock, valued at approximately $4,673,041.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,046 shares of company stock valued at $9,530,682. 0.51% of the stock is owned by company insiders.

NYSE PEG traded down $0.31 during trading hours on Friday, reaching $56.87. 3,693,802 shares of the company’s stock were exchanged, compared to its average volume of 2,196,230. The business’s 50-day moving average price is $59.79. Public Service Enterprise Group Inc. has a one year low of $49.22 and a one year high of $61.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.68 and a quick ratio of 0.52. The firm has a market capitalization of $28.89 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 4.50 and a beta of 0.33.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04). Public Service Enterprise Group had a return on equity of 11.02% and a net margin of 14.41%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the company posted $0.64 earnings per share. Analysts predict that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, September 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.31%. Public Service Enterprise Group’s payout ratio is 60.26%.

A number of brokerages have recently commented on PEG. Mizuho upped their price target on Public Service Enterprise Group from $61.50 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Morgan Stanley increased their target price on Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. ValuEngine cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group set a $67.00 target price on Public Service Enterprise Group and gave the stock a “buy” rating in a research note on Wednesday. Finally, KeyCorp started coverage on Public Service Enterprise Group in a research note on Tuesday, June 4th. They set a “sector weight” rating and a $59.40 target price for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $62.41.

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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